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On December 5th, Russian President Vladimir Putin raised concerns about the viability of national foreign exchange reserves during a recent address. He emphasized that these reserves are susceptible to political seizure, suggesting that a shift towards domestic investment could be more advantageous. Putin criticized the current U.S. administration for leveraging the dollar for political gains, thereby jeopardizing its status as the dominant global economic reserve currency. This has led a number of nations to explore alternative assets, particularly cryptocurrencies.
Putin made a bold statement about the resilience of Bitcoin and other digital currencies, asserting that they are “unstoppable.” He remarked, “Who can stop it? No one can stop it because it’s a new technology.” He highlighted that regardless of the future of the dollar, the evolution of these digital assets will persist as the global market seeks to enhance efficiency and reliability amid economic uncertainties.
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