12 days ago • Posted by Jasper Lawler
Russia's soverign wealth fund is divesting all dollar assets (if it invested in Bitcoin that could be huge...)
Russia's sovereign wealth fund (officially the National Wellbeing Fund) has decided to dump all of its dollars and dollar-denominated assets in favor of those denominated in euros, yuan - or simply buying precious metals like gold, which Russia's central bank has increasingly favored for its own reserves.
The wealth fund currently holds 35% of its liquid assets in dollars, worth about $41.5 billion, with the same amount in euros and the rest spread across yuan, gold, yen and pounds. After this latest change, the fund’s assets will be held 40% in euros, 30% in yuan, 20% in gold and 5% each in yen and pounds, Siluanov said.
Source: Zerohege / Bank of Russia
No mention of cryptos in its future assets lineup though...