20 Million Russians Embrace Crypto, But Bitcoin Still Reigns Supreme 🤑

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Ivan Chebeskov, the Deputy Finance Minister of Russia, has come out with a startling revelation: approximately 20 million Russians are now dabbling in cryptocurrency, and surprise, surprise-Bitcoin is still the undisputed king of the crypto jungle, holding a dominant 62.1% of all funds lounging lazily in exchange wallets.

Russia Goes Crypto-Crazy: 20 Million Russians Can’t Resist, Bitcoin Still Tops

The world is slowly being engulfed by cryptocurrency fever, and Russia, that frigid expanse where vodka flows like rivers and snow blankets everything, is no exception. The adoption rate of digital assets in the land of Tsars and oligarchs has exploded like a bottle of champagne on New Year’s Eve. And it seems millions of Russians have found their way to the bright, blinding world of crypto.

Ivan Chebeskov, in his usual sage-like manner, has acknowledged the truth we all knew was coming: cryptocurrency is here, and it’s not going anywhere. As if the whole country were being hypnotized by the flickering lights of decentralized finance, Chebeskov emphasized that the country must act swiftly. After all, what’s the point of ignoring something so monumental?

Quoted by TASS, Chebeskov graciously remarked:

We recognize that crypto exists – that much is clear. It took some time to reach that understanding. We have millions of citizens, by some estimates 20 million, who use cryptocurrency for various purposes.

Meanwhile, the Bank of Russia recently unveiled data showing a jaw-dropping 827 billion rubles ($10.15 billion) worth of crypto held by Russian users as of Q1 2025. That’s a 27% increase compared to last year. At this rate, Russians might soon have more Bitcoin than they have cold, hard rubles. Oh, the irony!

But here’s the kicker: despite the explosion of altcoins out there, the Russians just aren’t that into them. Oh sure, they’ll dabble, but nothing compares to the classic, old-school appeal of Bitcoin (62.1%). Right behind it are Ethereum (ETH) at 22%, and the ever-stable USDT and USDC taking up the rear with 15.9%.

Now, all this crypto madness has naturally triggered some panic in the Kremlin’s upper echelons. “What if the funds are stored on platforms that don’t share our values?!” they cry. As though the thought of their money being tucked away somewhere not approved by the state is a terrible affront to Mother Russia.

Chebeskov, ever the voice of reason, noted that Russia must create its own infrastructure to safeguard its citizens’ crypto holdings and ensure that both economic and technological gains remain firmly under Russian control. He also hinted that Russian mining operations and other crypto-related endeavors would soon get their own special infrastructure. Because why trust a foreign platform when you can build your own, right?

So buckle up, comrades. Russia is preparing for the next big thing-an ecosystem built on blockchain, fueled by Bitcoin, and with a little help from the state. What could go wrong?

FAQ – Russia’s Growing Crypto Obsession 🇷🇺💰

  • Why is cryptocurrency use growing in Russia?
    Well, let’s just say it’s the perfect storm: the allure of decentralized finance and, of course, the limited access to global markets have pushed millions of Russians to embrace crypto. No one wants to be left behind, right?

  • Which cryptocurrency is most popular in Russia?
    Bitcoin is still the big boss, with 62.1% of all Russian crypto funds chilling in exchange wallets.

  • What concerns do officials have about crypto use?
    Mostly, it’s the nagging worry about security-storing funds on foreign, unsanctioned platforms might not be the safest bet. The Russian government is getting a little twitchy about that.

  • How is the Russian government responding to this trend?
    In true Russian fashion, the Finance Ministry and Bank of Russia are working on developing a national infrastructure to ensure a sovereign, secure crypto environment. No one’s getting away with anything on their watch!

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2025-10-10 17:10