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Russia is considering establishing a strategic Bitcoin reserve in the future, but has decided against it for now due to the cryptocurrency’s inherent volatility risk.
Speaking at a lecture to students at the Financial University in Moscow, Russian Finance Minister Anton Siluanov disclosed that while Russia may consider creating a Bitcoin reserve in the future, the timing is currently not right.
Siluanov acknowledged the significant profits that investing in Bitcoin can bring. He noted that individuals who invested in Bitcoin at the beginning of the year would have doubled or tripled their investments due to the cryptocurrency’s dramatic price swings.
However, the Finance Minister emphasized that the Russian state is hesitant to expose its reserves to the same risks associated with crypto assets.
“It is better to earn less but keep, you know, as they say, your powder dry,” Siluanov said during his address at the university.
Source: www.crypto-news-flash.com
