Key Points
- Russian lawmaker, Anton Tkachev, proposes the creation of a national Bitcoin reserve to mitigate geopolitical risks.
- Former Binance CEO, Changpeng “CZ” Zhao, speculates smaller nations might lead in adopting Bitcoin reserves.
A Russian lawmaker, Anton Tkachev, has proposed the establishment of a national Bitcoin reserve.
Tkachev, a member of the State Duma from the Novye Lyudi party, has made a formal appeal to Finance Minister Anton Siluanov.
He advocates for a Bitcoin reserve modelled after traditional state reserves in fiat currencies.
Russia’s Bitcoin Reserve Proposal
Tkachev’s proposal highlights the growing recognition of Bitcoin’s potential as a strategic financial asset globally.
He noted, “With limited access to traditional international payment systems for countries under sanctions, cryptocurrencies are becoming virtually the only tool for international trade.”
This follows Russian President Vladimir Putin’s recent comments at the Moscow Investment Forum, where he acknowledged Bitcoin’s potential, marking a significant shift in his stance.
Global Interest in Bitcoin Reserves
Former Binance CEO, Changpeng “CZ” Zhao, also commented on the global discourse surrounding Bitcoin reserves.
Speaking at the Bitcoin MENA conference, Zhao speculated that smaller nations might lead the way in adopting Bitcoin reserves.
He also hinted at the potential for China to establish a Bitcoin reserve but noted the unpredictability of such a move due to the opacity of its government’s stance on cryptocurrency.
Zhao said, “Trump has not gotten into office yet, and the strategic Bitcoin reserve has not been activated yet, so I think as soon as that actually happens, we’ll see what other countries do.”
The global interest in establishing Bitcoin reserves seems to echo the cryptocurrency’s remarkable surge past the $100,000 milestone.
Currently, Bitcoin trades at $97,325.53, reflecting a 1.65% decline over the past 24 hours.
In the US, market sentiment remains mixed, with Polymarket betting on the likelihood of former President Trump creating a Bitcoin reserve in his first 100 days dropping to 28%.
