Bitcoin surpasses all assets according to an official report from the Russian central bank

In full reconfiguration of global economic balances, the Central Bank of Russia creates surprise. In her latest report, she ranks Bitcoin at the top of financial assets for 2025. Unexpected recognition from an institution hitherto cautious about the cryptos. This turnaround underlines both the remarkable performance of the assets and its growing integration in investment strategies, even within a financial environment as controlled as that of Russia.

An extraordinary performance according to the Russian central bank

In an official report published in May 2025, the Central Bank of Russia (BCR) recognized the exceptional Bitcoin performance in the last twelve months.

“Bitcoin has outperformed all other financial instruments analyzed with an annual return close to 40 %”can we read in the document.

This report establishes a precise comparison between yields of various assets, from gold to Russian federal obligations (OFZ), including sectoral actions.

Better still, “The cumulative yield of Bitcoin since January 2022 reaches 121 %”continues the report, a massive leap compared to traditional assets, the majority of which do not exceed increases to a figure.

This analysis is based on a double series of data appearing in graphics 36 and 37 of the report, which compares the performance of a wide range of financial instruments over 12 months and since January 2022. Among the assets analyzed appear in particular:

• Russian federal obligations (OFZ), traditionally used as a stability reference, whose yields have remained very moderate;
• Robble and euros deposits, whose performance has not exceeded 5 to 6 %;
• Gold, which only displayed gains to a figure over the observed period;
• Russian sectoral actions (energy, transport, finance, consumption), as well as the MOEX index, all exceeded by Bitcoin;
• The S&P 500 TR and the American treasury bills, also beaten by the crypto in terms of cumulative performance.

This encrypted recognition, although presented in a neutral analytical framework, breaks with the positions historically prudent, even reluctant, of the Russian authorities with regard to Bitcoin.

It underlines the rise of an asset which, failing to be officially supported, is now imposed by the evidence of its yields.

Persistent volatility and global adoption

If the Russian central bank highlights Bitcoin yields, it does not overlook the risks inherent in its volatility. The report underlines that “The first four months of 2025 were marked by a fall of almost 20 % of the price of Bitcoin”a setback that seriously rocked the markets and testified the resilience of investors.

However, the crypto rebounded quickly, and recorded an increase of more than 10 % in April, which made it possible to alleviate the losses of the first quarter. These brutal fluctuations recall that Bitcoin, despite its appeal, remains an asset at high risk, subject to sudden corrections.

Beyond the Russian sphere, the BCR report evokes external elements that have supported the growth of Bitcoin. The emergence of Bitcoin ETF in cash, especially in the United States and Hong Kong, played a decisive role.

“Access facilitated via traditional brokers contributes to the growing adoption of bitcoin”notes the analysis, which stresses that investors no longer need to control the complexities of digital portfolios.

In addition, macroeconomic instability, whether depreciation of the ruble or an uncertain global environment linked to the trade war, pushes savers towards assets leveraged in dollars, such as Bitcoin.