Russia is not planning to buy $10 billion in bitcoin this quarter, according to an official with the Russian State Duma. Elina Sidorenko, chair of the Duma’s cryptocurrency group, says the rumors are nonsense.
“This statement has no common sense,” Sidorenko told ForkLog. “The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”
And to say that this idea can be implemented in Russia for at least the next 30 years is unlikely.
Sidorenko was reacting to reports claiming Russia was planning to invest $10 billion in bitcoin to mitigate the economic impact of US sanctions.