A proposal to establish a strategic Bitcoin reserve for Russia has been submitted by Anton Tkachev, a State Duma Deputy from the New People party. The initiative aims to enhance Russia’s financial stability by leveraging Bitcoin as an alternative to traditional currency reserves. The news was first reported by Russian state-owned media agency RIA Novosti.

In a document addressed to Finance Minister Anton Siluanov, Tkachev called for the creation of a Bitcoin reserve analogous to Russia’s reserves in traditional currencies like the U.S. dollar, euro, and Chinese yuan. Tkachev cited the vulnerabilities of these currencies to inflation and international sanctions as justification for exploring alternative reserves.

“I ask you, dear Anton Germanovich, to assess the feasibility of creating a strategic reserve of Bitcoin in Russia by analogy with state reserves in traditional currencies,” the proposal stated. “If this initiative is approved, I ask you to submit it to the government of the Russian Federation for further implementation.”

Tkachev further emphasized that geopolitical instability and restricted access to international payment systems have elevated Bitcoin as a viable tool for international trade. The document noted that the Central Bank of Russia is already preparing to experiment with cross-border Bitcoin settlements.

The proposal highlights Bitcoin’s potential to serve as both a store of value and a hedge against traditional economic vulnerabilities. Tkachev argued that Bitcoin’s independence from any one nation’s monetary policy makes it a suitable addition to Russia’s strategic reserves. He also pointed to Bitcoin’s performance as an investment asset, noting its surge to $100,000 in December 2024, which further validates its utility as a reserve asset.

This development aligns with global trends of nations considering or implementing Bitcoin reserves. Notably, the United States, under President-elect Donald Trump, has outlined plans to establish a strategic Bitcoin reserve of over 1 million BTC. Other countries like El Salvador and Brazil have also made significant moves toward Bitcoin integration into their financial strategies.

The proposal follows a recent statement by Russian President Vladimir Putin, who declared that Bitcoin’s use cannot be banned or prohibited, and that its development will continue unabated. Earlier this year, Putin signed legislation legalizing Bitcoin mining, marking a significant shift in the country’s approach to digital assets.

If implemented, a strategic Bitcoin reserve could position Russia as a key player in the global Bitcoin ecosystem. The move would not only shield Russia’s financial system from sanctions and inflation but also diversify its economic toolkit in an increasingly digital global economy. The proposal underscores a growing recognition of Bitcoin’s potential as a strategic asset, with implications that could ripple across international financial systems.

As geopolitical tensions persist, the adoption of Bitcoin reserves by nation-states signals a transformative shift in how governments approach financial sovereignty and resilience. Whether the initiative gains approval remains to be seen, but it reflects a significant moment in the broader narrative of Bitcoin’s integration into global financial systems.

Bitcoin Magazine Article