Belarus leader says crypto offers path away from US dollar

Cryptocurrencies are one of the possible options for reducing global dependence on the US dollar, Belarusian President Alexander Lukashenko said.

He made this statement during a meeting on the performance of the Belarusian Nuclear Power Plant (BelNPP), the increase in electricity consumption and proposals for building new nuclear capacities, where he also asked for information on the measures taken to boost electricity consumption, Caliber.Az reports, citing BelTA.

Lukashenko further requested details on the results of these measures and proposals for developing the power sector and related industries.

“For example, cryptocurrency mining, electric transport, and the construction of housing with electric heating. The emphasis is on the prospects for loading existing and new capacities. I have read various notes and opinions. One note says that cryptocurrency mining can be unstable — sometimes higher, sometimes lower,” the president stressed.

Belarusian leader emphasised that the whole world is now facing a global challenge — moving away from dependence on a single currency, the dollar, adding that this process will only intensify.

He noted that cryptocurrency is likely one of the ways to achieve this goal.

Commenting on concerns about volatility, he remarked that some fluctuations are inevitable and added: if one is afraid of wolves, one should not go into the forest.

By Jeyhun Aghazada