According to the head of the Central Bank of Russia Elvira Nabiullina, cryptocurrencies are the worst possible way to store savings, since you can easily lose all your money.
During an interview with Komsomolskaya Pravda, Nabiullina touched upon the issue of savings. In her opinion, Russian citizens need to save money in the currency in which these savings will be spent, since if you save in another currency, you can lose on the difference in exchange rates. Moreover, according to the head of the Central Bank of the Russian Federation, “it is much easier to lose on the foreign exchange market than to make money.”
“The most dangerous of all strategies is, of course, speculative crypto assets. The price is very volatile, the losses can be enormous. The Central Bank never gives advice on where to invest, but in this particular case, it is definitely not necessary here, ”Nabiullina said.
Nabiullina has repeatedly expressed distrust of cryptocurrencies and called them a “money surrogate.” She recently spoke about the fact that the Central Bank of the Russian Federation is not going to change its position, and, despite the adoption of bitcoin as legal tender in El Salvador, such a step can not be expected in Russia. Earlier, Nabiullina also said that bitcoin cannot be considered a currency.
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