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More and more positive crypto stories hit the market regarding how Bitcoin is used to make purchases now that ATMs stopped working. In Ukraine people are currently even paying 45k for a BTC on a local exchange, that's how bad they want to store their cash in crazy times like these.
That?s over 10% on top of the current price and I get it, because you can use your bank account, you do not need cash as ATMs are empty if they are still working and you just need a phone to get it and to store it.
I am also reading about people in Ukraine that are purchasing goods with Bitcoin like the two Danish reporters that bought a car with BTC now that ATMs stopped working.
It seems that during this Crisis BTC proofs to be an easy accessible store of value and payment method...way easier than buying a car with gold. And probably easier than swapping your Ukrainian money for gold, because where do you go to when the few stores that sell gold only accept cash?
BTW, I am not a Maxi but just seeing evidence that it seems to work. And it makes sense as it?s is much easier than travelling with a gold or purchasing with gold. How are you gonna pay me with gold, who will break that ring and determine the price. You will need a scale etc. etc.
So the fear, for now, turned into bullishness not for the last part because war will drive inflation and we all know that crypto is one way to protect yourself from inflation.
Of course, every Bitcoin has 2 sides and the rich Russians will use crypto and BTC to evade the sanctions.
Still Crypto seems also to be a way if not the way to support the Ukraine in a direct matter without having the money that is send ending up in the wrong wallets.
- Over $4 million in digital assets has been donated to aid in the crisis in Ukraine
- Crypto.com has donated $1 million to the Red Cross to aid in the humanitarian effort
- FTX had earlier gifted $25 to Ukrainians using the platform
Thanks for the read and stay safe/ stay strong.
