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Vladimir Putin Says Crypto Could Possibly Serve Role as Settlement Unit for Oil

Vladimir Putin Says Crypto Could Possibly Serve Role as Settlement Unit for Oil



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27 Comments

  1. > Still, he cautioned it was too soon to talk about using digital currencies for trading oil and other commodities that form the bulk of Russia’s exports.

    Way to spin the news.

  2. tldr; Russian President Vladimir Putin said that cryptocurrencies were too early in their lifespan to consider them for niche use cases like energy transactions. He did say there is a possibility that the asset class could serve a role as settlement units. Russia’s Deputy Finance Minister Alexey Moiseev also confirmed that the country would not ban cryptocurrencies.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. Potential direct offensive on the petrodollar. Americans need to buckle up, once the USD decouples and isn’t the forced currency of oil transactions all bets are off. Standard of living across the nation will take a hefty dip.

  4. Russia is producing about 11 million barrels / day, which is $500M-$1B with current oil prices. Sounds like something Bitcoin could be capable of at this point if Putin allows market makers in Russia to mature.

  5. Wish we could get more western/developed countries to take pro-crypto stances instead of just highly corrupt countries run by absolute crooks.

    (Before anyone says it). Yes I know we would all love to believe every governemnt is completely inept and corrupt. However, if you can’t see the difference between the US and countries like El Salvador, Russia, and Venezuela then I don’t know what to tell you.

What do you think?

How is Bitcoin adoption going in El Salvador?

FIL/USD set to be bullish for the next 24 hours