According to government officials, based on users' IP addresses, Russians are believed to hold over 16.5 trillion rubles or approximately $214 billion worth of Cryptocurrencies. This $214 billion figure is equivalent to around 12% of global Cryptocurrency holdings or a third of the market capitalization of Russia's benchmark stock index. Moreover, tripleA data shows that more than 17 million Russians are Cryptocurrency owners aged between 25 and 44.