Bitcoin at 45K - Is the Ukraine crisis proving that BTC actually works?
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.
One instance of Bitcoin being used as an alternative was documented when two Danish reporters used BTC to buy a vehicle that they used to drive out of Ukraine. The two reporters, Stefan Weichert and Emil Filtenborg, had to use Bitcoin (BTC) after ATM’s in Dnipro (central Ukraine) were no longer functional. The two gentlemen then decided to purchase a Mazda 3 for 0.059 Bitcoin (BTC).
They explained the situation on the ground as follows:
You can see that many people walk around the city to withdraw money. The ATMs are down. We have spent the day getting fuel and spare parts for the trip. But it was hard to get parts. There were no more gas cans left, they are hoarded.
It seems that during this Crisis BTC proved to be an easily 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 traveling with 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 Ukraine in a direct matter without having the money that is sent 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
Three sides to each story
I fully agree with the fact that there are two sides or more to every story...it´s all a matter of perspective.
Many stories are just portraying the exact words of the Russian propaganda machine which should not be taken at face value similar to the Western propaganda.
There are always 2 sides to every story but most humans will not see any of those two. They only see the 3rd side....the make-believe one spread by the masters of puppets.
So don´t believe what you are told, never believe what you are told. Doubt everything that you ever have been told is true....because the truth does not exist. Like beauty, it´s in the eyes of the beholder.
Thanks for the read and stay safe/ stay strong.
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