ok快讯 reported on December 10 that according to CryptoBriefing, a Russian lawmaker proposed to establish a national Bitcoin reserve to hedge against geopolitical risks and sanctions. Anton Tkachev, a member of the New People’s Party of the Russian State Duma, submitted a formal appeal to Finance Minister Anton Siluanov, proposing the establishment of a Bitcoin reserve, similar to the traditional national legal currency reserve. Tkachev wrote in the appeal: “For countries under sanctions, due to the difficulty in accessing traditional international payment systems, cryptocurrencies have actually become the only tool for international trade.” The proposal came at a time when Russia was facing limited access to the global financial system due to sanctions.
Tkachev stressed that traditional foreign exchange reserves are vulnerable to sanctions, inflation and volatility, which could threaten Russia’s financial stability. He noted that modern challenges require the introduction of new payment processing systems and alternative reserve storage instruments, and mentioned crypto assets such as Bitcoin that are independent of a single country. The MP specifically mentioned the scenario of Bitcoin reaching $100,000 in December 2024, emphasizing its potential as a store of value and investment asset.
Tkachev added that the initiative is in line with the Bank of Russia’s efforts to include digital assets in cross-border payments and highlights the growing importance of crypto assets as a viable tool for international trade. The implementation of the measure requires a lot of policy adjustments and coordination among government agencies, including the central bank and financial regulators.