According to a Russian economist with ties to the Kremlin, the superpower is preparing a massive $10 billion USD investment in Bitcoin to replace its US dollar reserves. Russia’s Bitcoin investment is a step to minimize US sanctions on the country.
Russia’s Bitcoin Investment
Vladislav Ginko, an economist at the Russian Presidential Academy of National Economy and Public Administration, said the Bitcoin investment was a step taken to avoid US sanctions on Russia.
Ginko believes that Russia’s decision to hold Bitcoin as a reserve currency instead of the US dollar is a move being made to “protect [Russia’s] national interests” in light of a possible interruption of “US nominated payments flows for Russian oil and gas.”