Dollar’s Credibility Meltdown Can’t Stop Bitcoin
“Nobody can stop Bitcoin.” These were the bold words of Russian President Vladimir Putin, speaking at the World Trade Center in Moscow on Dec. 4, as reported by Bloomberg and TASS. Putin reaffirmed his support for digital assets, noting their inevitable development in Russia and beyond.
He noted Russia’s improvements in digital payment systems aimed at reducing business costs and bolstering industries. Amidst Western sanctions and economic warfare, the Kremlin’s shift toward cryptocurrencies signals a significant change in the global financial landscape.
Russian President Vladimir Putin firmly asserted that Bitcoin and digital assets are unstoppable, describing them as essential tools for reducing costs and enhancing financial reliability.
Speaking at the Investment Forum in Moscow on Dec. 4, Putin stated, “Who can ban Bitcoin? Nobody. And, who can prohibit the use of other electronic means of payment? Nobody. Because they are new technologies. And no matter what happens to the dollar, these tools will develop one way or the other because everyone will strive to reduce costs and increase reliability.”
This strong endorsement of digital currencies comes on the heels of Putin signing a law that formally recognizes cryptocurrencies as property in Russia.
The law, which exempts crypto mining and sales from value-added tax (VAT), also removes tax liabilities for transactions conducted via electronic payment systems (EPR).
Russia legitimized Bitcoin and cryptocurrency mining for select institutions in August, underscoring its ambition to drive the blockchain revolution forward. Moreover, a new law enacted in November formally recognized cryptocurrencies as property, paving the way for their further incorporation into the economy.
According to the Bank of Russia, citizens hold nearly $7 billion in crypto assets, with 14.6 million Russians… 10% of the population already owning digital currencies. The Russian Parliament is now considering the use of crypto for cross-border trade, a potential game-changer in bypassing the U.S.-led financial order.
The West’s fiat-ponzi dollar, a currency propped up by little more than battered credibility and global coercion, is unraveling. As Russia embraces the unstoppable force of Bitcoin, it exposes the hollow foundations of the U.S. financial empire. The dollar’s days of hegemony are numbered, as Moscow and the multipolar world champion a new financial reality rooted in sovereignty, technology, and resilience.
America’s weaponization of the dollar has backfired spectacularly, accelerating the decline of its own currency. The Hydra of Wall Street never imagined that a Russian bear and a decentralized blockchain could be the architects of its demise. Tick-tock, Washington. Your house of cards is shaking.
