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Russian lawmaker proposes strategic Bitcoin reserve to counter geopolitical challenges

As Bitcoin gains traction globally, Tkachev's plan positions Russia to use digital currency as a hedge against geopolitical financial barriers.

CryptoSlate

Dec 10

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Happy Tuesday!

In today's CryptoSlate daily newsletter, we explore the latest headlines that are shaping the cryptocurrency landscape. Russian lawmaker Anton Tkachev has unveiled a proposal for a strategic Bitcoin reserve, positioning Russia to leverage digital currency as a safeguard against geopolitical financial pressures. Meanwhile, the market is reeling from another flash crash, resulting in a staggering $1.52 billion in liquidations as over-leveraged traders scramble to exit their positions amid heightened volatility. On the technological front, Google's Willow quantum chip is igniting discussions within the crypto community about the urgent need to future-proof Bitcoin's security against potential quantum threats. Join us as we unpack these critical developments and their implications for the crypto market.

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The global crypto market cap is $3.35 trillion, with a 24-hour volume of $348.24 billion. The price of Bitcoin is $95,946.61, and BTC market dominance is 56.5%. The price of Ethereum is $3,571.12, and ETH market dominance is 12.8%. The Crypto Fear & Greed Index is currently Greed (78).