“No one can stop Bitcoin.” These were the bold words of Russian President Vladimir Putin, speaking at the World Trade Center in Moscow on December 4, Bloomberg and TASS reported. Putin doubled down on his support for digital assets, noting their inevitable development in Russia and beyond.
▪He highlighted Russia's progress in digital payment systems designed to reduce business costs and support industries. Amid Western sanctions and economic warfare, the Kremlin's turn to cryptocurrencies signals a tectonic shift in the global financial landscape.
▪ In August, Russia legalized bitcoin and crypto mining for select institutions, underscoring its intent to lead the blockchain revolution. Additionally, a new law from November officially recognized cryptocurrencies as property, laying the groundwork for further integration into the economy.
▪ According to the Bank of Russia, citizens hold nearly $7 billion in crypto assets, with 14.6 million Russians… 10% of the population already owning digital currencies. The Russian parliament is now considering the use of cryptocurrency for cross-border trade, a potential rule change to circumvent the US-led financial order.
The Western fiat ponzi dollar, a currency propped up by little more than broken trust and global coercion, is crumbling. As Russia embraces the unstoppable power of Bitcoin, it exposes the hollow foundations of the US financial empire. The days of dollar hegemony are numbered as Moscow and the multipolar world defend a new financial reality rooted in sovereignty, technology and sustainability.
America's weaponization of the dollar backfired spectacularly, accelerating the decline of its own currency. Wall Street's hydra never imagined that a Russian bear and a decentralized blockchain could be the architects of its downfall. Tick tock, Washington. Your house of cards is shaking.