The war in Ukraine sparked a lot of discussion about the cryptocurrency industry. On the one hand, it will allow Russia to get out of Western sanctions, and on the other hand, it will allow Russia to get out of Western sanctions Bitcoin (BTC) Donations are used to provide humanitarian aid to the Ukrainian population. According to Coinshares, the war made one thing crystal clear: Bitcoin has an intrinsic value.
Bitcoin and stocks
Lately, the correlation between stocks, especially technology stocks, and bitcoin has been huge. For this reason, it is often the largest cryptocurrency in the world Danger to the The category set by the investors. According to Coinshares However, this is the wrong approach. Bitcoin cannot be compared at all to technology stocks. Technology companies offer certain goods and services while Bitcoin offers an alternative to the current monetary system. These are by nature two completely different things.
This was confirmed once after the Russian invasion of Ukraine. Bitcoin has no boundaries and no discrimination. Anyone in the world can use the Bitcoin network. Whether they live in the Netherlands, Ukraine or Russia. Basically, the network is completely independent of any interference from governments.
“The protocol is non-discriminatory, so anyone with access to the Internet can create a wallet equivalent to an international bank account, free from any regulation and human/political influence.”
Especially when the traditional financial system is under pressure, for example through war and beyond PenaltiesShows the true value of the Bitcoin network. For this reason, many residents of both Ukraine and Russia are currently adopting bitcoin as a payment method.
According to Coinshares, bitcoin transactions have been on the rise in both countries in the past two weeks. The traditional financial sector is failing people and the Bitcoin network is ideally suited to fill this gap.
“While Bitcoin’s identity remains volatile, as it matures, we are likely to see one of its original core concepts, a stateless asset free from human error and politics, continue to make gains against its identity as a high-risk asset. Recent geopolitical events have well demonstrated this.”
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