A member of Russia’s State Duma has proposed the creation of a national Bitcoin (BTC) reserve, positioning the crypto as a tool to counter economic sanctions and ensure financial stability, local media reported on Dec. 9.

The proposal, introduced by Anton Tkachev of the Novye Lyudi party, reflects a growing interest in leveraging digital assets amid restricted access to global financial systems. It comes days after President Vladimir Putin made positive comments about Bitcoin during a conference, calling it an unstoppable technology.

In a formal appeal to Finance Minister Anton Siluanov, Tkachev suggested establishing a Bitcoin reserve akin to traditional foreign currency reserves. He argued that cryptocurrencies offer a unique advantage in mitigating risks associated with sanctions, inflation, and currency volatility.

Tkachev reported stated in his appeal:

“With limited access to international payment systems, cryptocurrencies represent one of the few viable options for global trade under current conditions.”

Bitcoin as a Strategic Asset

Tkachev pointed to Bitcoin’s rising valuation, noting its December 2024 price of $100,000 as evidence of its reliability as both a store of value and an investment. While Bitcoin is currently trading around the $97,000 level, it has demonstrated significant resilience and potential for growth, peaking above $103,000 earlier in the month.

The proposal aligns with the Central Bank of Russia’s broader initiatives to integrate digital assets into international payment systems. Tkachev emphasized the importance of developing modern solutions to manage economic challenges, highlighting Bitcoin’s decentralized nature as a safeguard against external financial pressures.

The news comes amid heightened interest in nation-states adopting Bitcoin as a reserve asset for their treasuries. The movement has gained steam i

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Author: Assad Jafri