Russian State Duma deputy from the New People faction Anton Tkachev proposed creating a strategic reserve of bitcoins, inspired by a similar initiative by supporters of the elected American President Donald Trump.

The deputy officially appealed to Finance Minister Anton Siluanov with a request to consider the issue of creating government reserves of the first cryptocurrency:

“I ask you, dear Anton Germanovich, to evaluate the feasibility of creating a strategic bitcoin reserve in Russia by analogy with state reserves in traditional currencies. If this initiative is approved, I ask you to submit it to the government of the Russian Federation for further implementation.”

The people’s representative explained that fiat currencies, from the ruble to the US dollar, are subject to volatility and the influence of international sanctions. New instruments for storing reserves are needed, “not dependent on the whims of individual unfriendly countries.” Such instruments include the first cryptocurrency.

According to the deputy, Bitcoin has demonstrated high profitability among other investment instruments, and its price is gradually growing, “despite all attempts to discredit the asset.” Thanks to the first cryptocurrency, the state can make significant profits, the parliamentarian is sure.

Earlier, the Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, admitted the possibility of adding Bitcoin to Russia’s gold and foreign exchange reserves. But, according to the head of the committee, this will happen “in 100 years.”