Speaking to CNBC’s Hadley Gamble as part of the Russian Energy Week events, Russian President Vladimir Putin made a surprise statement about cryptocurrencies. “I believe cryptocurrencies have value. ” said Putin, approaching the issue cautiously. “Cryptocurrencies are not supported by anything yet,” the President said about the most talked about investment instruments of recent years.
Statements made by Vladimir Putin reveal what kind of approach Russia has regarding these investment instruments. But how will the thousands of cryptocurrencies on the market be used? There is nothing to be said at this point. “It may exist as a means of payment, but it is too early to say anything about trading with cryptocurrencies,” Vladimir Putin said, hinting that this view may change years later.
Curiosity after Putin’s statement: Will oil trade be done with cryptocurrencies?
Russian Deputy Prime Minister Alexander Novak made a statement that made headlines a few months ago. Stating that they are tired of the embargoes originating from the USA, Novak said that if it continues, they will move away from the dollar-based oil trade. Explaining what he thought when he was reminded of these words, Vladimir Putin took a clear stance as “I don’t believe it can be used in oil trade.”
We can easily say that the statements made by Vladimir Putin are very important. Because governments, even if they don’t say it, think that the current financial order can be destroyed, they oppose cryptocurrencies. Although a country like El Salvador has recognized Bitcoin as its official currency, such an exit from Russia is a clear indication that a new global order can be established.
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