Why War and Sanctions Are Good for Bitcoin - BitcoinEthereumNews.com
Bitcoinबिटकॉइन के लिए युद्ध और प्रतिबंध क्यों अच्छे हैं?03 / 06 / 2022बिटकॉइन एथेरियम समाचार इलायस स्टीन द्वारा चित्रण शब्दों का आकर Russias invasion of Ukraine is pressuring equities, pumping up oil prices, and scrambling Federal Reserve plans to raise rates. Through it all, Bitcoinn has been rising, up around 13% to $39,500 since fighting broke out. The crypto may be benefitting from demand as a currency or store of value in countries hit by war and sanctions. Bitcoin purchases in Russia and Ukraine have picked up. Demand for stablecoins, which aim to maintain a fixed $1 value, has also been rising. And crypto is being deployed to aid Ukraine: Some $55 million has been raised through more than 100,000 crypto-asset donations, says blockchain data analysis firm Elliptic. This could have long-term repercussions for crypto, positive and negative. Ongoing geopolitical instability and economic crises could fuel demand for cryptos that can bypass government controls. “It might not be the technology you want to buy a loaf of bread, but if you need funds quickly and want to know they‘re really yours, then it’s a technology that plays a useful role,” says William Luther, an economist and fellow with the Bitcoin Policy Institute. Yet, cryptos anonymity