At a news conference on Thursday, chairman of the Russian Duma committee on energy, Pavel Zavalny, said the country is considering using Bitcoin (BTC) as an alternative payment method for oil and other resources.
Zavalny said that, in the midst of sanctions following its invasion of Ukraine, Russia can still sell gas to the West in exchange for rubles and gold, and to “befriended” nations such as China or Turkey for Bitcoin.
He said:
“If they want to buy, let them pay either in hard currency, and this is gold for us, or pay as it is convenient for us.
The set of currencies can be different, and this is normal practice, [so] you can also trade bitcoins.”
Following Zavalny’s remarks, Bitcoin went up breaking the $44,000 barrier for the first time in weeks displaying some correlation. The top cryptocurrency is now trading at $43,957.52 according to CoinMarketCap.
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Source: Igaming
