Firstly, Bondarenko emphasized the main risk of keeping funds in cash at home, in a bank safe, or even in a bank account: savings are eroded by inflation. For example, consumer price inflation in Ukraine reached 16.5% in 2024, and according to some forecasts, it could rise to 18% this year.
"That means if you simply had 100,000 hryvnias sitting in a drawer for one year, you'd lose 18% of its purchasing power. In other words, after a year, those same 100,000 hryvnias would buy 18% fewer goods and services because prices go up, while the value of your money stays the same," the expert explained.
According to Bondarenko, the dollar is also losing value — forecasts indicate a possible 5% depreciation this year. If U.S. inflation was 3.8% last year, it may increase in 2025. Overall, those holding savings in cash dollars are losing about 4–5% annually.
"Hryvnia and dollar are risky currencies this year. Why? Because both are devaluing — and doing so quickly. That’s why it makes sense to move funds into stronger and more stable currencies that retain value and purchasing power, such as the national currencies of leading economies. Which ones? The Swiss franc, the euro — which is definitely more stable than the dollar this year — and the Japanese yen, which is also expected to perform well," Bondarenko explained.
He also pointed out that the Swiss franc is gaining value, largely due to deflation in Switzerland. Prices there are falling rather than rising this quarter, and many expect this trend to continue.
"This is like an island of reliability and stability, as Switzerland has always been. From an investment and risk-diversification point of view, Switzerland looks like an attractive place for savings this year," the expert noted.
The key strategy in 2025, according to Bondarenko, is to avoid excessive risks.
He also offered recommendations on how to structure an investment portfolio depending on the amount of capital:
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With $10,000, it’s better not to invest at all, but simply keep it “with you.”
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With $100,000, you can form a portfolio in different stable currencies, invest 10–15% in cryptocurrencies (it’s important to choose tokens that could potentially grow 2–4 times over 2–3 years), and also consider stock markets or investments in a business or another asset you understand and trust.
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With $500,000 or more, the expert recommends investing in energy projects in Ukraine.