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My personal speculation is: it just hyping the issue. It may even true that they already mining bitcoin and other cryptos, and that they are in the process of developing its own crypto assets.

By makings news like these, the bitcoin price tends to appreciate, if it falls, they can buy cheaper coins and raise the hashrate does mine more cryptos.
It is still in their favor.

A government is a different beast to handle, unpredictable and powerful.

What we need to do?
Keep your ordinary crypto behavior, DO NOT panic sell  or buy in bulk just because of this news. Keep your pace normal. Either way, we are still heading to a bull market sooner or later.

Stay put.

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Greetings dear @edgarare1

>But I think that the fact that a state leader enters the world of crypto coins is something that sooner or later will be inebitable, and when it happens it will push the market to new extremes.

I agree with this approach.

It is evident to us who love the crypto world that this is the only way to go. Crypto is the now and the future.

Then it is to be expected that at some point the business managers of the nations will turn their finances around the crypto.
Will Russia be the first to do it? It will only be a speculative news?

The truth is that trde or early, this will happen. And it would be the oxygen needed for bitcoin and all cryptocurrencies in general to recover their upward trend. Let's wait to see how the events unfold.

Thanks for sharing.
All best, Piotr

I think this news is pure speculation.

It is not the first time we hear news about Russia buying cryptocurrencies or making their own. There were rumors about Russia investing in Ethereum during 2017 and it finally did not happen.

https://www.forbes.com/sites/madhvimavadiya/2017/08/29/putin-ethereum-fintech/

However, just the rumor, if it does extend enough, may rise the price of Bitcoin by itself in short term.

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Thanks for the interesting article - What is the source you are quoting?

If they are going to invest in Bitcoin I think the last thing they would do would be to announce it publicly beforehand. As this would cause a price rise so they'd have to pay more for it.

They'd just do it as discretely as possible and then announce it. That way they'd enjoy big gains on it.

BTW. I think all crypto people should check out Web Dollar :
https://webdollar.io/pool/1/BACMpool/0.01/21dc1f57cb7338963ea159877b4ade97b71dd11ac17292e3852bdc33a26a17e4/https:$$pool.bacm.ro:443/r/WEBD$gDuXLk7%2523YeqmHCWxrxqd7eIbAcAIKSBDyT$

The dollar is too strong,
When that government is not friendly to you,
You will to bad.
And BTC is in the hands of people around the world,
Not susceptible to policy,
Use BTC as one of the national reserve currencies,
Is a wise choice.
But the government that dares to do that,
Still not appearing.

This is fake news. Read more here:

https://www.ccn.com/russia-denies-buying-10-billion-in-bitcoin-telegraph-story-fake-news

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With the disagreement on using the US dollar as the medium of exchange Russia and China and even other countries not really US friendly can now use crypto as a sovereign medium for exchange and Bitcoin is ideal for this. I think it would be smart of countries to diversify reserves too and hold some crypto which could lend some stability and resistance level to the market.

If Russia does make a move this could really be the start of something exciting

Actually , Bitcoin can act as good currency for trading between 2 countries without having USD or having dependence on any other country currency.
It will act as neutral currency. But only concern is , increase in BTC fees should not make transaction fees exorbitant.