The Russian Finance Ministry revealed that it is not currently planning to include cryptocurrencies in the strategic reserve due to volatility concerns.
However, Deputy Finance Minister Vladimir Kolychev suggested that this stance could change once the fund’s liquid assets reach a level equivalent to 7-10% of Russia’s gross domestic product (GDP). “However, for now, the volatility signs are not favorable,” Kolychev said.
On 4 March 2025, local media reported that the Russian Ministry of Finance does not plan to change the current regulatory structure of the NWF’s investments, and, in particular, to add crypto assets to it.
BREAKING:
🇷🇺RUSSIA DECLARES NO INTENTION TO INCLUDE BITCOIN IN ITS STRATEGIC RESERVES. pic.twitter.com/6NQjO8aYmP
— Ash Crypto (@Ashcryptoreal) March 5, 2025
Russia’s Reserve Includes Gold And Chinese Yuan
Currently, the NWF primarily holds gold and Chinese yuan, with approximately 60% of its assets in yuan and the remaining 40% in gold. Kolychev insisted on opting for stability and liquidity, clarifying that currently Russia doesn’t have an appetite for volatility.
“From the point of view of sovereign budget reserves, it is important for us that the assets in which these reserves were invested could be sold very quickly and without a large price revaluation, so that our sale does not lead to the fact that we receive not a ruble for a ruble, but 50 kopecks for a ruble,” said Kolychev. “And crypto assets are an asset with increased volatility.”
The Deputy Finance Minister also noted that Russia is still “far” from reaching its desired levels of reserves, making it unlikely that cryptocurrencies will be considered anytime soon.
“The volatility parameters are not favorable for now,” Kolychev said, confirming that he considers crypto an unsafe asset.
Despite US President Donald Trump’s recent announcement of a strategic crypto reserve involving Bitcoin, Ethereum, Ripple, Solana and Cardano, Russia, Switzerland and Australia have dismissed the idea of incorporating crypto into their official reserves.
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Switzerland And Australia Are No Longer Interested In A Strategic Crypto Reserve
On 1 March 2025, Swiss National Bank (SNB) President Martin Schlegel rejected the proposal to hold part of its reserves in bitcoin, as proposed by a people’s initiative.
According to local reports, Schlegel said that cryptocurrencies do not fulfill the essential characteristics that a good currency should have.
Meanwhile, Australia’s current government has indicated that it doesn’t have plans to establish a crypto strategic reserve. However, the country is on the brink of choosing a new government. The latest YouGov poll shows the center-right coalition holding a slight lead over the center-left Labor government, leading 51% to 49%.
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Key Takeaways
- Russia’s reluctance to adopt cryptocurrencies as part of its national reserves stems from concerns about volatility and liquidity.
- While the Russian Finance Ministry has left the door open for cryptocurrency reserves in the future, significant hurdles remain before such a move can be realized.
