"Everybody buys Bitcoin at the price they deserve." That's one of the best quotes crypto twitter has got today and it is so full of meaning...
The crypto markets have been moving lately towards "greener pastures" and it seems that somehow Bitcoin has managed to decouple itself from the stocks market, for now. Not saying it has become a safe heaven over night, but things are moving, apparently in the right direction... for Bitcoin.
"As Russia continues its invasion of neighbor Ukraine, the Russian markets are spiraling out of control, and an increasing share of the country’s population is seeking financial refuge in cryptoassets. This is reflected in the sky-high premiums for those who wish to exchange RUB into bitcoin (BTC) via peer-to-peer exchanges, as indicated by the latest market data".
What happens right now in Russia with the Rubble reminds me of Turkey, just a few months ago when citizens were turning towards Bitcoin, paying premiums as well, jut to get out of the falling Lira, but Russia might have an ace in its pocket that Turkey didn't have. The dollar is doing good atm and so does EURO, but for how long?
Purchasing power is decreasing, nevertheless, almost everywhere i the world. In my country for example, diesel and petrol is on such a run in price and that spike shall reflect in prices for almost every good we will buy in the future.
Why is Bitcoin doing so good lately?
Eric Weiss has a very good point in this regard. "Russian bank run - buying BTC, Ukrainian bank run - buying BTC, Canadian bank run - buying BTC, Oligarchs buying BTC, Inflation - buying BTC, everyone smart enough to see this happening - buying BTC"
Bitcoin is gaining a lot of attention lately, mostly from buyers, coming from probably all plateaus of individuals of this so called modern society, but there's a catch... The catch is that world leaders might profit from this war, in a way many are not even thinking of, same as they did in 2001 with 9/11 when everyone became a potential terrorist and so many freedoms have been stolen in that regard.
Who would want CBDCs to become a reality, probably more than anyone in the world?
Sanctioned countries, or the ones that "are not so US friendly" that would also try and de-dollarize the world. Now to make thigs more clear I'll simply copy/paste(something I don't like that much...) a big chunk of zerohedge's article on China and Russia and how these might be on track to "de-dollarize" the world and reduce the US influence and wealth.
I don't entirely agree on this one, because I find it hard to believe we will get back to the gold standard, but it's something worth paying attention to.
Russia has tangible reserves in the form of oil and gold. Russia is the top supplier of imported gasoline to the United States. “In 2021, Russia accounted for 21% of all U.S. gasoline imports,” Forbes writes.
China is a major supplier of…basically everything…we use in the West on a daily basis. China was the United States' largest supplier of goods imports in 2020, according to the USTR. China is currently our largest goods trading partner with $559.2 billion in total (two way) goods trade during 2020, the same report notes.
Who would have thought about that, right? But wait... now comes the painful/fun part...
China and Russia have vowed to jointly “de-dollarize,” creating alternatives to the current system with a three-step plan that began a few years ago. First, both countries began to cut back the proportion of their bilateral trade invoiced in dollars, privileging settlement in their own currencies.
Second, they have sought to boost the renminbi’s role as an international currency for payments and reserves. To encourage wider adoption of its currency, China has given more than 30 countries renminbi access through bilateral swap agreements. China and Russia each scaled back their U.S. Treasury holdings, with Russia channeling cash into renminbi holdings. And China has ramped up the digital currency drive it began in 2014, with the goal of making it easier to hold renminbi.
The third and last leg of these efforts, still underway, aims to create alternative payments and messaging systems allowing countries to use home and partner currencies instead of dollars or euros to settle trade and investment deals.
I think I've heard this one before... Wait...
Klaus Schwab was wowing lately so much about his "well designed" great reset plan, but it seems the Chinese and the Russians have a head start on this one and I bet he wasn't betting that much on them when he openly talked of his so called thesis for a supposed future where we would own nothing and be happy.
OK now, this post is already longer than what I usually have, thus I am going to close it here, I'm sure you got the gist of it, I want to keep it "readable" and I would highly encourage you to read the source article from the quotes above because it is highly meaningful. Meanwhile, the big question is: what's Bitcoin going to do next, how much of a sound money should it be, is it gonna become "the US sound money"?
Thanks for attention,
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