Russians’ crypto holdings surpass $25.4 billion by mid-2025

By mid-2025, Russians’ cryptocurrency holdings have surged past $25.4 billion, marking a significant milestone in the country’s digital asset landscape.

According to Vasily Girya, CEO of GIS Mining, this valuation exceeded 2 trillion rubles by the end of the first half of 2025. This growth reflects a broader trend of increasing crypto adoption and investment within Russia, despite ongoing regulatory caution from the central bank.

The Bank of Russia has recently allowed financial institutions to offer crypto-related products to accredited investors, including securities etc tied to Bitcoin prices, though direct cryptocurrency ownership remains discouraged by the regulator.

Additionally, cryptocurrencies are playing a strategic role in Russia’s international trade, particularly in facilitating oil transactions with China and India to circumvent Western sanctions. Russian oil firms have employed bitcoin etc, and stablecoins such as Tether to convert foreign currencies into rubles, highlighting the practical utility of crypto in the country’s economy.

While the official estimate of crypto holdings on centralized exchanges stands at around $9.2 billion, experts suggest that the actual amount held in wallets and decentralized platforms is substantially higher, underscoring the robust and growing crypto ecosystem in Russia. This $25.4 billion figure by mid-2025 encapsulates both retail and institutional participation, reflecting Russia’s evolving engagement with digital assets amid geopolitical and economic challenges.

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