Anton Tkachev, a member of Russia’s State Duma, has proposed the creation of a national Bitcoin reserve to mitigate economic sanctions and enhance financial stability. Tkachev’s proposal, reported on Dec. 9, follows President Vladimir Putin’s recent acknowledgment of Bitcoin as a transformative and unstoppable technology.

Tkachev’s formal appeal to Finance Minister Anton Siluanov suggests structuring a Bitcoin reserve similar to traditional foreign currency reserves. He argued that cryptocurrencies, particularly Bitcoin, are critical for facilitating global trade amidst restricted access to international payment systems. Highlighting Bitcoin’s December 2024 price of $100,000, Tkachev described it as a reliable store of value and an effective hedge against inflation and currency volatility.

The proposal aligns with broader efforts by Russia’s central bank to integrate digital assets into international payments. If implemented, it could position Russia as a global leader in using cryptocurrencies for national financial strategies. However, significant policy reforms and collaboration among Russian financial institutions would be required.