Putin calls Bitcoin a global alternative: a new controversial speech

Russian President Vladimir Putin stated that the latest U.S. policies undermine the dollar’s role, forcing other nations to seek alternative assets, including Bitcoin. According to Putin, no centralized authority can control the decentralized network, which makes the asset appealing for long-term reserves. Experts estimate that about 5% of all Bitcoin remains available for mining worldwide.

His statement immediately impacted the crypto markets: Bitcoin surged nearly 3% in one day, hitting $96k. Analysts note that the total coin supply is capped at 21 million, with 19.8 million already issued. This suggests only a small portion of fresh coins will enter circulation in the near future.

Following Putin’s remarks, debate intensified about using cryptocurrencies as a hedge against geopolitical risks. Some in the financial sector see this as an opportunity for innovation, while conservative players worry about increased regulatory scrutiny and market volatility.