Putin: No one in the world can stop BTC! The rise of digital currency is irreversible

Russian President Putin recently expressed his views on the future development of BTC and digital payments at an investment forum. He emphasized that with the evolution of new technologies, no one can stop this trend and stated that nobody can ban BTC. (Background: Trump’s fierce words: If BRICS countries dare to “de-dollarize,” a 100% tariff will be imposed!) (Additional context: Sun Yuchen attended The Trends summit in Russia: the second decade of the encryption industry, the rapid development of the public chain ecosystem) Yesterday (4th), Russian President Putin expressed his views on the future of BTC and digital payments at the Russia Calling investment forum. He emphasized that with the development of new technologies, nobody can ban digital currencies such as BTC, nor can they stop the popularization of other electronic payment methods. JUST IN: Russian President Putin says “who can ban #Bitcoin?” “Nobody” pic.twitter.com/woiOWko8wA — Watcher.Guru (@WatcherGuru) December 4, 2024 New technology cannot be banned Putin also mentioned that regardless of the future of the US dollar, these digital tools will develop in some form. He believes that the rise of digital currencies is a global trend that cannot be reversed. Putin bluntly stated at the forum: “Who can ban BTC? Nobody can. Who can ban the use of other electronic payment methods? Nobody can either. Because these are all new technologies.” He added that as the world continues to seek to reduce costs and improve the reliability of payment systems, digital currencies like BTC will become increasingly popular. Weakening of the US dollar’s status During the discussion, Putin also questioned the need for holding foreign currency reserves, believing that these reserves are easily confiscated for political reasons, and expressed a preference for investing funds in more attractive domestic options. As for why he holds this view, it is speculated that it is related to the freezing of around 300 billion US dollars of Russian reserves by Western countries during the Russia-Ukraine war outbreak in 2022 (most of the funds come from Russia’s energy income), which was frozen for political reasons. He criticized the US for using the dollar as a political tool, which has weakened the global reserve currency status of the dollar and prompted other countries to seek alternative assets, including cryptocurrencies. He believes that this trend of de-dollarization is gradually expanding. Digital currency plans of BRICS countries His remarks illustrate his supportive stance towards digital currencies, especially BTC. He believes that digital assets like BTC will continue to develop in the future and have similar potential to the digital currencies launched by other countries. At the 2024 BRICS summit held at the end of October this year, Putin proposed the establishment of a BRICS food exchange and a BRICS investment platform, and other leaders agreed to build a jointly led cross-border payment system by Russia, which will help BRICS countries bypass the globally dominated financial system led by the US dollar for international trade. Related reading: Trump’s fierce words: If BRICS countries dare to “de-dollarize,” a 100% tariff will be imposed! Related reports The ruble “collapsed” to its lowest after the Ukraine-Russia war! Central Bank urgently called for a halt to foreign exchange, experts: the Russian economy is on the brink of collapse Unprecedented! Russia imposes astronomical fines on Google, what happened? Embracing BTC in de-dollarization! Russia plans to promote BTC as an international trading currency, breaking through the SWIFT ban (Putin: Nobody in the world can ban BTC! The rise of digital currencies is irreversible) This article was first published on BlockTempo, the most influential blockchain news media in the dynamic area.