Belarus President Indicates Shift Towards Cryptocurrencies

Belarus President Alexander Lukashenko stated that the world's dependence on the dollar is rapidly decreasing and that cryptocurrencies can offer an alternative in this process. Lukashenko emphasized that the changes in global economic power dynamics require his country to adapt to this new era.

The President noted that the world order is increasingly moving away from a dollar-centric system, highlighting that cryptocurrencies could play an important role in this transformation. He also mentioned that cryptocurrency mining is a strategic area for Belarus and that the country's high electricity production capacity gives it an advantage in this field.

Lukashenko acknowledged that income can fluctuate over time but stated that he does not see this as a source of concern and believes that the long-term strategy is solid. In recent years, Belarus has been pursuing policies that support cryptocurrency mining to utilize its surplus electricity. This situation, along with Lukashenko's statements, is interpreted as an indication that Belarus will continue its energy-focused utilization strategy.

In particular, low-cost energy sources are positioning Belarus competitively in regional mining activities. President Lukashenko's remarks suggest that cryptocurrencies could achieve a more central role in line with Belarus's economic diversification goals and efforts to prepare for transformations in the global financial system.