State Duma deputy from the New People faction Anton Tkachev proposed that the Russian Ministry of Finance create a strategic reserve of Bitcoin (BTC).
According to Tkachev, the strategic bitcoin reserve will help Russia to strengthen financial stability in the face of sanctions.
Geopolitical situation and the need for innovation
State Duma deputy Anton Tkachev from the New People party sent an official appeal to the head of the Ministry of Finance of the Russian Federation, Anton Siluanov. The official proposes to create a strategic Bitcoin reserve.
Tkachev noted that such traditional currency reserves as the US dollar, euro and yuan can no longer guarantee Russia’s financial security. With the global economy facing rising inflation risks, currencies used in international trade have become vulnerable.
In the face of threats, the deputy proposes that the Ministry of Finance of the Russian Federation look for more reliable and independent instruments for storing state reserves. In his opinion, Bitcoin (BTC) could be an excellent option.
Tkachev emphasized the decentralized nature of cryptocurrency – the asset is not subordinate to any one country or government. Unlike traditional currencies, which can be subject to sanctions or devaluation, Bitcoin offers benefits to protect financial stability, the official said.
US President-elect Donald Trump previously announced the creation of a Bitcoin reserve. Later they thought about the same initiative in Brazil.
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Source: Cryptocurrency
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