Russia Turns to Bitcoin: What It Means for Global Finance

"The BTC Reserve proposed by US senator Cynthia lumus is likely only a taste of what is to come over the next four years"

"a raft of similar proposals started appearing in legislatures around the world in late November a Brazilian lawmaker introduced a similar Bill to the National Congress in December a member of Hong Kong's legislative Council suggested that Hong Kong also accumulate BTC as a reserve asset the former Finance minister of Germany and fdp party leader Christian Lindner called for BTC to be added not only to the reserves of Germany's Central Bank but also to those of the European Central Bank in Poland presidential candidate faav Menon tweeted his support for a national BTC Reserve adding quote BTC to the Moon fun fact when he was running for mayor of a Polish City in 2018 menson proposed using public school facilities to mine BTC well you got to start them I suppose then there's Japan where opposition party politician Satoshi yes really Hamada suggested quote Japan should follow the example of the United States and consider turning some of its foreign exchange reserves into crypto assets such as Bitcoin Hamada asked the government to reveal its position on this and the prime minister's office responded that it didn't know enough to give a definitive answer so that's a no for now but the government didn't outright reject the idea either at the rate we're going the list of governments contemplating hodling BTC will probably be longer by the time you're watching this"

"if Russia is in fact mining its own BTC then it will be able to process its own BTC transactions"

"if Russia's experiment with crossborder payments in BTC goes well it seems a no-brainer that other countries will start using it for trade too"

"if any powerful country but especially the US starts accumulating BTC as a strategic Reserve asset any questions about its status as a desirable asset like gold will be put to bed simultaneously confidence in the US dollar as the global Reserve asset will likely take a hit this too should give more momentum to the dollarization agenda as other countries follow suit accumulating BTC for their own reserves"

"his Finance Minister says that the Russian government is ready to ramp up its use for trade in 2025"

"Russia's planned Central Bank digital currency or cbdc which is expected to launch in mid 2025"

"sanov signaled that Russia plans to make crypto a larger part of its trade strategy in 2025"

"I am confident this will happen next year"

"one adviser to president zalinski announcing quote appropriate sanctions and other solutions to block the possibility of using unwanted cryptocurrency payments are already being prepared"

"Russia may be the first country to officially use BTC for international trade but it won't be the last"