On December 4, 2024, Russian President Vladimir Putin expressed strong support for Bitcoin and digital assets, predicting their continued growth.

Speaking at the 15th VTB Capital Investment Forum "Russia Calling" in Moscow, Putin highlighted the irreversible nature of blockchain technology and its importance in optimizing costs and enhancing transaction reliability. His remarks signify a shift in Russia's stance on cryptocurrencies, aligning them with the country's broader financial strategy.

Russia has recently taken concrete steps to integrate digital currencies into its financial system. For example, Putin signed a law recognizing digital currencies as legal assets for international transactions and exempting cryptocurrency mining and trading from VAT. These measures aim to reduce reliance on the US dollar and traditional financial systems, especially amid Western sanctions.

Following China's stricter regulations on cryptocurrency mining, Russia has positioned itself as a global hub for this activity, further solidifying its role in the digital currency ecosystem. The nation views cryptocurrencies as both a financial innovation and a tool for enhancing national financial sovereignty.

Putin's statements underline Russia's commitment to leveraging emerging financial technologies despite potential challenges, impacting both its domestic economy and the global financial landscape as digital currencies reshape global dynamics.