It is a matter of time until Russia starts trading goods for digital currencies as it seeks to avoid sanctions imposed on it over Ukraine, the head of state-run Russian Export Center said on Thursday

Cryptocurrencies as a payment method may be legalized in Russia, Minister of Industry and Trade Denis Manturov said on Wednesday

The continuous devaluation of cryptocurrencies was likely the result of a tangle of factors, from worldwide inflation to financial market volatility, that has prompted spooked investors to choose exiting risk assets in anticipation of a recession, international experts told Sputnik

The price of Bitcoin lost 14% of its value on Thursday, dropping below $27,000 for the first time since December 2020, according to trading data

An ongoing sale-off in the US stock markets coupled with the uncertainty over the global macroeconomic outlook, which have already resulted in a marked decline of the cryptocurrency market capitalization, could plunge bitcoin's value by a third to about $20,000, Aaron Chomsky, the head of the investment department of the ICB Fund, told Sputnik on Wednesday