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Russia doesn’t plan to make Bitcoin legal tender anytime soon

El Salvador has recently made Bitcoin its legal tender and has become the first country to do so. And in the process, the question arises which country is going to be the next. Well, it is not Russia for sure, as Putin’s press secretary says that the country doesn’t plan to make Bitcoin legal tender anytime soon. He also said that the move would not be beneficial to Russia, and there is no incentive to do so.

The Russian government is not open to Bitcoin

In the press interview, the secretary also says that even Moscow does not recognize BTC at this point in time. None of them is finding it necessary to adopt Bitcoin as a legal tender. In fact, they think that instead of benefiting the country, the adoption of Bitcoin will only hurt the economy and the financial system. He also said at this point, Russia is not ready and hence doesn’t plan to make Bitcoin legal tender anytime soon. The statement “not ready” suggests that the future might change.

Russia doesn't plan to make Bitcoin legal tender anytime soon

These statements come after the price of Bitcoin crashed on the day of its legal adoption in El Salvador. This is surely an orchestrated move and shows that, yes, there is manipulation going on. But Russia is right in their regard. If as a country they are not ready for the adoption they should wait. We are still a long way to go, and soon, other smaller countries are expected to adopt BTC because of their extremely volatile and inflated currency.

Russians are into crypto

In a recent survey, it was found that Russians are into crypto. In fact, over 75% of the population that participated in the poll said that they are more interested in cryptocurrencies than traditional investment vehicles. This is good as sooner or later, the adoption will be so high that the government will have to take a solid step towards giving BTC a status. Most Russians also think that crypto will multiply their wealth in the long term. This means they also believe that crypto is here to stay and could be the next big thing, or maybe it already is.


What are your thoughts on Russia not planning to make Bitcoin legal tender? Or was it an obvious thing? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Miller’s hedge fund thinks Bitcoin is a good investment

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