Russian President Vladimir Putin made a surprisingly positive statement about crypto – saying it has the “right to exist” – and added that it may one day find a niche in economies “as a means of accumulation ”.
Putin was speaking to news channel CNBC in an energy-themed interview, the transcription of which was published on the Kremlin website. During the interview, he was asked about the possibility of using crypto as a form of payment in oil export deals.
He has answered:
“Cryptocurrency[-funded] contracts? It’s too early to talk about it. Because cryptocurrencies, of course, can be used as a unit of account [in deals], but they are very unstable. Use them to transfer funds from one place to another [is viable]. But in my opinion it is still premature to exchange [with crypto] – especially when it comes to exchanging energy resources.
The Russian leader was speaking to the media as part of a Russian Energy Week event, and as gas and oil prices continue to rise around the world. And when he pushed his sights on crypto, he asserted that “everything has a right to exist,” even crypto.
“We will see how much further [crypto] will go. Maybe one day [tokens] could also become a means of accumulation. We see how the market is developing. It is a bit early [to pass judgment on crypto] at present. “
And while he said that cryptoassets are “electronic resources” that “are not yet backed by anything,” he hesitated when asked if he thought crypto was ” worthless “by his interviewer, replying:
“Why? [Crypto] has value. The question here is simply whether it can be used as a unit of account when buying and selling oil? That’s all I’m talking about. For energy trading it is necessary to use traditional units [of payment], especially in the case of hydrocarbons.
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