Russian President Vladimir Putin says cryptocurrency "has the right to exist and can be used as a means of payment," he said during an interview broadcast on CNBC. However, he indicates that it's too soon to talk about using digital currencies for trading oil, which forms the majority of Russia's exports. The Bank of Russia has reiterated to investors that the crypto market is "extremely volatile" and digital tokens cannot be used as a payment method domestically, Bloomberg notes. Meanwhile, bitcoin (BTC-USD) continues to disappoint the bears, climbing roughly 5% to $57.6K on Thursday after testing levels as high as $59K late last night. Fidelity's Jurrien Timmer predicts the largest digital token to reach $100K by 2023, saying his supply and demand models for the crypto intersect at that level.