Russia could develop a cryptocurrency reserve within one to three years, a top mining executive claims, as U.S. policy shifts fuel global interest in crypto’s financial potential.
Crypto Reserve in Russia? Industry Insider Says It Could Happen in 1-3 Years
As more countries consider buying bitcoin following U.S. President Donald Trump’s plan to make the United States the crypto capital and establish a bitcoin and cryptocurrency reserve, Russia may also move in a similar direction. Oleg Ogienko, Deputy CEO of Bitriver, a Russian mining datacenter operator, stated that Russia could develop a cryptocurrency reserve within one to three years, provided that the necessary regulatory framework is established. He told Tass:
From my point of view, the cryptocurrency reserve can be created in Russia within the period of 1-3 years, when regulatory conditions for that will be established in the country.
He emphasized that a secure infrastructure for storing and managing digital assets must first be developed, adding that while some progress has been made, it currently operates within a closed-loop system.
Ogienko suggested that such a reserve could modernize Russia’s financial system by leveraging end-to-end technologies. He also pointed out that discussions around national cryptocurrency reserves have intensified due to recent U.S. policy announcements. He noted that this trend is becoming increasingly relevant on a global scale.
In addition to his insights on regulatory development, Ogienko discussed bitcoin’s price movement, predicting that the next target for buyers would be $100,000. If the positive momentum continues, bitcoin could climb to $130,000 by the end of the second quarter, he added.
Trump recently revealed that the U.S. government will establish a strategic cryptocurrency reserve, which will include bitcoin (BTC), ethereum (ETH), and other significant digital assets, including XRP, solana (SOL), and cardano (ADA). Proponents argue that this initiative could position the United States as a leader in digital finance, promoting innovation and potentially stabilizing the crypto market. However, critics express concerns over the volatility of these assets and the inclusion of lesser-known altcoins, fearing it may undermine the reserve’s credibility and expose the government to financial risks. Russia’s interest in cryptocurrency signals a growing recognition of digital assets as a tool for financial stability and economic strategy.