Russian Lawmaker Proposes Creating Strategic Bitcoin Reserve for Russia

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Russian Lawmaker Proposes Creating Strategic Bitcoin Reserve for Russia - CoinGape

Quick Summary:

A Russian lawmaker has suggested creating a national Bitcoin reserve to protect Russia’s financial stability amid ongoing geopolitical risks and international sanctions.

In his letter, Russian lawmaker Anton Tkachev highlighted the limitations of traditional foreign exchange reserves, which are vulnerable to volatility, inflation, and sanctions.

Former Binance CEO Changpeng Zhao has speculated that countries like China could eventually create their own Bitcoin reserves, especially as global economic pressures continue to rise.