Russia Eyes Crypto Reserve as Bitcoin's Price Hovers
1min read Russia is considering the development of a crypto reserve, according to discussions between the Finance Ministry and the Central Bank. This move is part of an experiment aimed at allowing highly qualified investors to engage in cryptocurrency trading.
Meanwhile, Bitcoin's price has been a topic of discussion, with some analysts suggesting that it needs to surpass $92,000 to build upward momentum. As a 24/7 traded asset, Bitcoin has historically served as an early indicator of liquidity shifts and has responded swiftly to macroeconomic changes.
In other news, Russian Central Bank Governor Elvira Nabiullina has stated that the bank is not involved in any talks regarding the lifting of sanctions or the unfreezing of Russia's reserves. This comes as the west continues to use Russia's frozen reserves to support Ukraine.
The United States, under the Trump administration, is set to unveil a Bitcoin reserve strategy at the upcoming White House Crypto Summit on March 7. The event will bring together key industry figures to discuss regulatory clarity, financial innovation, and economic growth opportunities. The administration's plan includes a strategy for a Bitcoin reserve alongside broader regulatory plans for digital assets. While Bitcoin will receive special recognition, other cryptocurrencies will be handled differently under the new policy. The event aims to promote US leadership in crypto innovation and enable builders in various ecosystems.
