Collectively, Russians own more than 10 trillion rubles ($130 billion) in cryptocurrencies. This was reported by Russian Prime Minister Mikhail Mishustin.
The prime minister did not name the source of the figure, noting that the amount is based on “different estimates.”
“We are well aware that we already have more than 10 million young people who have opened cryptocurrency wallets, to which they have transferred significant amounts of money that exceed 10 trillion rubles,” he said.
Thus, the cryptocurrencies of Russians are quite close to Russia’s gold reserves, which were $140 billion at the end of March 2022.
The latest data from the Russian government comes a few months after the Bank of Russia announced plans to estimate the size of citizens’ crypto holdings last year.