Russian President Vladimir Putin: Bitcoin has a ‘right to exist’

Russian President Vladimir Putin made the new remarks during an interview with CNBC, which was posted on the Kremlin’s website on Thursday, advising increasing tolerance for bitcoin and cryptocurrencies. Bloomberg Report

“I believe it’s worth it,” Putin told CNBC’s Hadley Gamble at the Russian Energy Week event in Moscow on Wednesday. “But I don’t believe it can be used in the oil business.”

Concerns have been raised about how Russia will pull out of the dollar-based oil deal because of US economic sanctions.

Putin said that bitcoin and crypto could exist as a means of payment, but that it was “too early” to talk about settling unpaid deals in bitcoin or crypto instead of dollars.

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