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Summary
- A Russian State Duma member proposed that Bitcoin be used as a strategic reserve.
- Traditional reserve currencies are said to be vulnerable to volatility, sanctions, and inflation.
- In contrast, virtual assets can be used as reserves because they do not rely on any single country.
It appears that there are voices in Russia advocating for Bitcoin to be used as a strategic reserve. On the 10th (local time), according to Russian media RIA Novosti, Anton Tkachev, a State Duma member from the 'New People' party, proposed to Russian Finance Minister Anton Siluanov that Bitcoin be reserved at the national level. He argued that "considering geopolitical instability, traditional reserve currencies are vulnerable to volatility, sanctions, and inflation. However, virtual assets (cryptocurrencies) can be used as reserves because they do not rely on any single country."
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