Ukraine's military is receiving Bitcoin donations. This is going to go down in history as the beginning of decentralized, crowdfunded nation state warfare.
Last week Canada displayed Bitcoin's use-case for individuals. This week, financial sanctions against Russia and crowdfunded military funding will display Bitcoin's use-case for nation states.
Crowd funded physical warfare & sanctions avoidance will not be positive PR for Bitcoin. Expect more FUD from media outlets condemning cryptocurrencies.
Whether justified or not, we're seeing the acceleration of legacy financial access cutoffs for individuals, corporations and nations. Everyone's acknowledging Bitcoin as a solution. The cat's out of the bag. The IMF & WEF are fighting a losing battle. Even the anti-Bitcoin crowd sees what's happening and is acknowledging it. Regardless of the amount of negative PR to come, Bitcoin will keep doing what it does.
Russia might be the turning point where nations need to FOMO into BTC if they want to have any wealth 10 years from now. Authoritarian countries like China will be asking themselves whether it was a good idea to force Bitcoin miners, companies and holders out of their country. If fiat currencies keep slipping the last thing you want is for the real money to flee your country and circulate amongst your enemies.
The best strategy for a nation could be to amass as much Bitcoin as possible now and default on their foreign debts later. That's when central banks and fiat currencies die.
It's going to be a very volatile market and a geopolitically volatile world for a while if things play out this way. This isn't the way I want to see BTC reach mass adoption, but it's a possible we're on the verge of a big shift. Regardless of how media might portray this, Russia/China/Iran/North Korea/etc. all buying bitcoin in an attempt to get ahead is a better outcome than launching nukes. And getting rid of central banks is the light at the end of the tunnel.
Submitted February 25, 2022 at 08:41AM by huge_dingus https://bit.ly/3HnAIVl
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