Faced with Western sanctions, Russia is using Bitcoin as a way to circumvent the dollar and financial restrictions. This move raises crucial questions about the economic and legal implications.
Bitcoin as Russia's Strategic Solution
Since September 2024, Russia has been experimenting with a legal regime that allows the use of digital financial assets in international trade. Finance Minister Anton Siluanov asserts that these tools, including Bitcoin, could replace the dollar in transactions.
Risks of Crypto Trading
While Russia has legalized Bitcoin mining, it remains cautious in trading. Last November, Minister Siluanov warned against investing in Bitcoin, which was then hitting historic highs over $76,000.
Russia's Geopolitical Ambitions in Crypto
With extensive energy resources, Russia sees Bitcoin as an economic and political weapon. By inviting the BRICS countries to leverage these conditions, it aims to build a new multipolar economy where Bitcoin mining and cryptocurrencies redefine the rules.
Russia navigates international sanctions by finding new economic tools for adaptation and growth. Bitcoin is a key element in this strategy, which requires cautious approaches to avoid potential risks.
