A leaked proposal to Russian finance minister, Anton Siluanov on the creation of a bitcoin strategic reserve in Russia, is adding to speculation about an imminent Bitcoin Space Race between the two global superpowers.
This, after President-elect Donald Trump pledged to establish his own Strategic Bitcoin Reserve in the US, even suggesting part of the US debt “could be “paid off” with Bitcoin.
The leaked proposal hints Russia has its own reasons for getting into crypto:
“In conditions of limited access to traditional international payment systems for countries under sanctions, cryptocurrencies are becoming virtually the only instrument for international trade.”
The Central Bank of Russia is already preparing to launch an experiment in cross-border settlements in cryptocurrency.
Putin himself recently described bitcoin as an “unstoppable technology” and praised its potential as an alternative to foreign currency reserves. Indeed, financial sanctions may have driven Russia to adopt bitcoin and crypto at a faster rate than in other countries.
Meanwhile, the price of Bitcoin has soared in 2024, reaching the monumental $100,000 mark earlier this month. And as major global superpowers race to board the crypto train, the prognosis for 2025 looks bright.
As we have seen, when BTC goes up, altcoins and meme coins surge as well. And, while Bitcoin is a safe bet for nation states, altcoins may hold the greatest life-changing odds for individuals willing to bet on the crypto craze continuing well into 2025.
If that’s you, we’ve rounded up four of the best altcoins to get into right now.
$XRP – Stable Option Geared for Cross-Border Payments
XRP, the native cryptocurrency of the Ripple network, has seen huge growth in the past two months, gaining approximately 319.77%. Recently, it reached a six-year high of $2.46.
XRP stands out for how it facilitates fast and low-cost international money transfers, with an average settlement time of just 4 seconds, and very low fees (0.00001 XRP per transaction).
Recent regulatory gains, such as the New York Department of Financial Services (NYDFS) approval for Ripple’s stablecoin, have also added to investor confidence. As have its recent partnerships with over 300 financial companies, including American Express, Bank of America, and Banco Santander.
It’s easy to…
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