TechFlow news — On March 3, according to TASS, Oleg Ogienko, Deputy General Director of Bitriver, a Russian cryptocurrency mining data center operator and mining equipment importer, said Russia could establish a cryptocurrency reserve within one to three years, provided that the necessary domestic regulatory conditions are put in place.
Ogienko noted: "First, we need to build and regulate secure infrastructure for the storage and circulation of digital currencies domestically. Such infrastructure is beginning to emerge but currently remains in closed environments." He believes that creating such a reserve would provide additional momentum for modernizing Russia’s financial system through cutting-edge technologies, adding that the formation of cryptocurrency reserves has become a reinforced trend in global financial markets this year.
Bitriver assesses that competition over digital resources among Russia, the United States, and other major economies is accelerating. After Bitcoin reached $97,000, buyers’ next target will be $100,000. Ogienko expects that under a positive scenario, Bitcoin could surpass $130,000 by the end of the second quarter.
Previous report: Russia's National Fund partnered with crypto mining company BitRiver to build data centers in BRICS countries.
