Bitcoin is PERFECT for Russia right now. I call it ‘The trifecta of incentives’
https://ift.tt/qxfcR7N
Russia has been sanctioned to hell and is being cut off from the Swift network so I was wondering how this would affect Bitcoin adoption in the country and I’ve came up with three general ideas as to why Russia could turn to Bitcoin which I have labelled as ‘The trifecta of incentives’.
#1 – A decentralised medium of exchange to circumvent the sanctions and exclusion from swift to continue to conduct international trade with its partners (i.e. the recent gas deal with Pakistan).
#2 – A store of value and global asset to limit exposure to the Euro and Dollar in Russia’s international reserves as almost half of their total reserves are now frozen because of the sanctions.
#3 – A chance to displace the dollar as the world reserve currency and therefore severely reduce US hegemony in the world with a mathematically sound, decentralised and non-corruptible digital asset – Bitcoin.
It seems to me that Bitcoin is absolutely perfect for Russia right now, especially as the Rouble is going to shit. What do you guys think? I seriously think it’s in Russia’s favour to adopt Bitcoin right now.
You can watch the full video [here](https://youtu.be/8YcM1CbBScw) giving a full explanation of how the conflict could speed up Bitcoin adoption.
Edit: This post isn’t supposed to come across as insensitive to the current situation, simply just seeing how Russia could utilise Bitcoin whether we like that or not. It’s decentralised after all!
Cryptocurrency
