Over the past few days, the world has seen some tension in Europe between Russia and Ukraine. This is due to the Russian invasion of Ukraine and the involvement of other countries reacting with economic sanctions on Russia. It is a global crises because it affect most part of the world and in any point in time can escalate to a full scale global war as world powers get involved.
After Russia invade Ukraine, they were warned by the US, the UN and other European countries to stop the aggression and withdraw their troops. Putin did not yield to this but rather push forward with his plans. The west reacted by unleashing sanctions on the Russia President and his minister by freeing their accounts in the west. Vladimir Putin continued his aggression and begin attacking major cities in Ukraine. The US, the EU and other European powers in the likes of UK, France, Germany, Poland and even Switzerland unleashed major sanctions on the Russian economy like imposing a no flight zone for Russia airlines, removing Russian from SWIFT, a global financial platform use by banks for transactions and also sanction major Russian Banks. Also, many nations and state restrict the sales of Russian products such as Wisky in their territory. Sporting and cultural organizations also sanction Russia. All these sanctions fell hard on the Russian economy.
The Russian Ruble fell to its lowest and their stock market also crash and has been closed. Russian people piled up in long lines outside of banks and ATMs to cash out their money. The economy is in turmoil. Although these sanction fell hard on Russia, they also has some effects on the world economy.
In the midst of all this tension, Bitcoin: a peer to peer electronic payment method rose to fame as it is currently saving the world’s economy, Ukraine and especially the people of Russia and the Cash out ther Rubble to buy Bitcoin so as to hedge against inflation and devaluation. Over the pass few weeks of the Russian Ukrainian war, people all over the world have been sending donations in the form of Bitcoin to the Ukrainian people to help them secure their nation but above all to take care of the refugees and displaced people. Binance, the World largest and leading cryptocurrency exchange just announced a donation of $10 million to Ukraine in order to help the children, mothers, displaced people and refugees of the war. Within this period of war time when Banks and financial institutions are shut down, cryptocurrency is up 24/7 and functioning.
Bitcoin closed February and start March with a good face of $44k which is the best price the market has seen since February. Massive adoption of Bitcoin all around the world especially in Russia, Ukraine and Europe as a whole. #Bitcoin has proven that in times of crisis and need, when you can’t trust banks and financial institutions, you can always hope on Bitcoin to save the day.
However, Bitcoin is a very risky and highly volatile asset. People get in to invest, buy and hold for the long term whole others carryout day to day trading. Whichever way, it is good to Do your own research before venturing into any option that has to do with Bitcoin.
You can start Investing in Bitcoin today, Buy, trade and sell on the world’s largest cryptocurrency exchange. Creat a free Binance account HERE now.
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