Cited by The Telegraph, Ginko said he trusts Russia's de-dollarization choice is generally a move to "ensure its national advantages" because of a conceivable interference of “US nominated payments flows for Russian oil and gas” and claims that the investment in bitcoin could be as much as $10bn (£7.8bn); a material enough amount to send the price of bitcoin sharply higher.The] Russian government is about to make a step to start diversifying financial reserves into Bitcoin since Russia [is] forced by US sanctions to dump US Treasury bonds and [take] back US dollars,” Ginko said.

“These sanctions and the will to adopt modern financial technologies lead Russia to the way of investing its reserves into Bitcoin.”

While the Central Bank of Russia still can't seem to verify or refute the report and presently can't seem to distribute official designs, it said in an announcement to The Daily Telegraph that it “publishes information on the foreign assets management with a six-month lag”. As noted over, a benefit reallocation would be normal by a nation which has been forcefully de-dollarizing by boosting its property of the euro, Chinese renminbi and Japanese yen.What is most astounding is the sheer size of Russia's proposed reallocation: the supposed arrangement to put resources into the advanced resource would see the state obtain right around a 6th of the world's Bitcoin coast, however since the purchase request would push the cost and valuation strongly higher, that would lessen Russia's buying power. 

Moreover, since the Russian government would be not able open a record with a trade to purchase digital currencies, any speculation designs could include the setup of a "intermediary cryptocurrency" that would then be able to be traded for Bitcoin. The new cryptographic money would need to be offered by a dealer, for example, Sberbank, a state-possessed bank, and would go about as what's known as an utility token.