Russia Legalizes Bitcoin for Foreign Trade; Cardone Capital Buys 282 BTC During Selloff

Russia announced it has legalized Bitcoin for use in foreign trade transactions, representing a sovereign-level adoption of Bitcoin as a cross-border payment instrument. Cardone Capital, a US real estate investment firm, separately acquired an additional 282 Bitcoin valued at approximately $18 million during the ongoing crypto market selloff, bringing its disclosed holdings higher. Both developments occurred against the backdrop of Bitcoin trading below mining production cost.