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The Central Bank of Russia identified Bitcoin as the least profitable asset., 2026/03/12 10:11:48
In February, investments in Bitcoin resulted in the largest losses for market participants when measured in rubles. This is stated in the report by the Bank of Russia titled “Overview of Financial Market Risks.”
According to the regulator, cryptocurrencies exhibited the poorest performance among all asset classes analyzed. The actual ruble return on Bitcoin over the past 12 months was minus 31.2%. In contrast, gold showed an opposite trend during the same period, with its value increasing by 59.1%.
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A similar situation was observed previously. In December 2025, the Bank of Russia also identified Bitcoin as the most unprofitable asset since the beginning of the year. In November alone, its return decreased by 19.9%, marking the worst performance among all instruments considered. Overall, the first cryptocurrency lost 25.7% of its value in ruble terms over the past year.
Against this backdrop, investor interest in cryptocurrency derivatives in the Russian market remains low. As of early March, futures linked to crypto assets accounted for only 0.7% of open positions, as noted by the Bank of Russia.
For comparison, currency pairs make up 72.6% of the market structure, while contracts on precious metals account for 8.8%. In February, the most attractive investment options, according to the regulator, were gold and stocks from specific sectors of the Russian market.
Earlier, Ekaterina Lozgacheva, the director of the strategic development department of the financial market at the Bank of Russia, stated that trading operations with cryptocurrencies on state-controlled platforms could commence later this year.
