Former Russian President Medvedev: Dollar Loses To Cryptocurrencies In 2023

As per Russia’s former head of state, digital fiat currencies will spread next year while the United States dollar will be losing its status of global reserve currency. In a series of tweets, Dmitry Medvedev gave his 2 cents on what the future holds for the world.

As per the man who was at the helm of Russia for 4 years between two of Vladimir Putin’s presidential terms, the Bretton Woods monetary system will cave in next year leading to the crash of the International Monetary Fund and the World Bank.

Dmitry Medvedev stated on social media,

“Euro and dollar will stop circulating as the global reserve currencies. Digital fiat currencies will be actively used instead” while “all the largest stock markets and financial activity will leave the U.S. and Europe and move to Asia.”

Throughout the outgoing year, Russian authorities have been working to expand the legal framework for virtual currencies and regulate digital assets, in particular their use for cross-border settlements amid financial curtailments. While the Bank of Russia, which is developing its own digital ruble, suggested a blanket ban on digital asset transactions in the nation, Medvedev told Russian media in the month of January that a ban might have the opposite effect.