Bitcoin Flips Russian Rubble As 14th Largest Currency - How far can it go?

Bitcoin Flips Russian Ruble As 14th Largest Currency - How far can it go?

By Cryptofab | Cointune | 1 Mar 2022

Further to the sanctions imposed by EU & US, Russian Ruble has collapsed and has been flipped by Bitcoin, as well as by Thai Baht and Mexican Peso...


How far can it go?

It depends if you look at Bitcoin or Ruble side:

  • On Ruble side, if the war lasts too long, Ruble will continue to decrease while people lose faith and convert their dirty Rubles into cryptos.
  • On Bitcoin side, there is a double effect: people in Russia and Ukraine partially swap their local fiat currencies for cryptos to avoid inflation, and at the same time the Swift sanctions applied to Russian banks will urge them to use more and more blockchain and cryptos for their daily transfers.

In the longer term, BTC will continue to grow in market cap and it would not be surprising to see it flipping Swiss Franc in the next few months since the current crisis affects all the countries in Europe... Even Switzerland which will do their utmost to stay as neutral as possible and attract more capitals.

The flipping of CHF by BTC would be a symbolic step since it would mean there are more funds placed into Bitcoin than in Swiss banks... However, the flipping of EUR or USD is not for tomorrow, and flipping Gold is another story since Gold market cap is $12.24 T vs. $0.8 T for BTC... As a sidenote, the relative small cap of BTC compared to Gold shows that the room for growth is huge since new generations could trust more in BTC than in Gold.

What's next?

The near future is more than uncertain. We can only make some bets. A key question is: which cryptocurrency will the Russian banks use preferably? However, this question is short term and a bit embarassing since most of the crypto hodlers do not want to participate in helping these banks to work...

In the meantime, it could be worth looking at the high and mid caps which can benefit from Bitcoin growth but with higher volatility: ETH, SOL, AVAX, XTZ as well as EGLD which could be more and more bought in Eastern Europe since people are worried about what might happen in the near future.

Investing small amounts into small caps with a real utility, e.g., HNT, the Helium Network Token, can also make sense. Mesh networks can be a real focus.

Below a few referral links to earn more cryptos...

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