Bitcoin Strategic Reserve Anticipation Soars
This ban aligns with Russia’s broader efforts to integrate digital currencies into its financial strategy. Lawmaker Anton Tkachev has recently proposed the creation of a Bitcoin Strategic Reserve to mitigate risks posed by traditional foreign exchange reserves.
Highlighting the vulnerabilities of fiat reserves to inflation and sanctions, Tkachev suggested Bitcoin offers a resilient alternative, as it operates independently of centralized controls. He argued that digital currencies provide protection against geopolitical uncertainties and ensure financial stability in a sanctions-laden environment. The move reflects Russia’s recognition of Bitcoin’s potential to act as a hedge against economic challenges while embracing a decentralized future.
On the other hand, it also comes after President Vladimir Putin signed a crypto taxation law in late November this year. This law officially recognizes digital assets as property.