Post
Topic
Board Bitcoin Discussion
Re: Russia's approval of BTC
by
doomloop
on 16/02/2022, 18:51:05 UTC
Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?

Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance Smiley
I don’t think that Russia has really approved of Bitcoin as a currency, although cryptocurrency mining is now legal in their country and people are allowed to buy and hold it as an asset. As for what you have said as being their intention for legalizing cryptocurrency, we are not even sure yet whether that is true or not. So, I am supposing that you just made that up. And moreover going to war at a time like this it’s really a bad idea. I wouldn’t support any country that is going for war at a time like this where things are really getting hard for a lot of people. In fact there is no perfect time for war, it is a bad thing.