Russian Deputy Finance Minister Vladimir Kolychev‘s statement on Wednesday that Bitcoin (CRYPTO: BTC) will not be included in the National Wealth Fund mirrors President Vladimir Putin‘s historically cautious approach to cryptocurrency.
What Happened: Kolychev, speaking to Interfax on Wednesday, confirmed that the country’s national wealth fund will maintain its focus on gold and yuan, with allocations of up to 60% in yuan and 40% in gold, explicitly rejecting Bitcoin due to its volatility.
“From a sovereign budget reserve perspective, it is crucial that the fund’s assets are highly liquid and can be quickly sold without significant loss in value,” he …
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