The Bank of Russia has estimated the profitability of Bitcoin.
According to the Bank of Russia's calculations, Bitcoin has become one of the most profitable assets in ruble terms over the past year (+29%) and the leader in profitability since the beginning of 2022 (+154%), overtaking gold.
The regulator emphasized in its latest edition of the Financial Market Risk Review that gold was the most profitable of all assets in October when calculated in rubles (+3.50%). The leading cryptocurrency posted a negative return (-6.60%).
Bitcoin's price against the ruble remained below its peak—around 8.5 million rubles, compared to 11.1 million rubles in December last year. Given this, the Bank of Russia estimated the return on investment in Bitcoin since the beginning of the year in rubles at -7.2%.
Since May, the Bank of Russia has permitted trading in derivative financial instruments linked to the price of cryptocurrencies. These instruments are available only to qualified investors and must not involve actual delivery of crypto assets.
Previously, the financial marketplace Vyberu.ru and IT Smart Finance conducted a survey that found that one in ten Russians is willing to invest in cryptocurrency, while 85% are categorically opposed to this investment option.
Source: cryptonews.net
