The President of Russia, Vladimir Putin, discarded This Wednesday, during an interview with the CNBC chain, the idea of resorting to cryptocurrencies for oil supply contracts, due to its volatility.
“Cryptocurrency (oil) contracts? It’s too soon to talk about it, because cryptocurrencies, of course, can be a unit of account, but they are very unstable. To transfer funds from one place to another, yes, but to trade, especially to trade with energy resources, in my opinion, it is still premature, “the president reasoned, adding that such electronic resources” are not yet backed by anything. “
However, the Russian president admitted that “everything has the right to exist“and did not exclude the possibility that at some point cryptocurrencies will become a” means of accumulation. “
In that context, when asked if he considers that the assets that billionaire Elon Musk holds in cryptocurrencies are “worthless”, the Russian leader responded with a negative, and explained that it had only addressed the issue of the use of these currencies in the field of energy sales.
However, Putin stressed that the generation or mining of cryptocurrencies requires “a huge amount of energy“which is produced mainly with the use of conventional sources, and especially coal.
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