Bitcoin, cryptocurrencies seem to be the financial means of choice of various Russian and Ukrainian counterparties involved in the Russia Ukraine conflict.
Russians and Ukrainians are using cryptocurrencies or crypto for short to store wealth, transfer wealth and as a unit of account, which are the three basic functions of money. It seems, in times of conflict Bitcoin, crypto does function as money and when its anonymity is added to that, crypto becomes a local reserve currency.
The fact that Bitcoin, cryptocurrencies have become local reserve tender currencies in the Russian Ukraine conflict points to the almost limitless opportunity for crypto. Cryptocurrencies are regarded as a risky asset. As peculiarity would have it Bitcoin, crypto seem actually to function as a safe heaven asset in times of conflict.
Such safe heaven status actually makes Bitcoin, ETH, Ripple and other cryptocurrencies potentially very valuable.
Bitcoin, crypto's durability and agility is yet to be tested to 100 %, though.
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