Russia has been working on legalizing bitcoin for the last couple of weeks. They definitely knew what they were doing.
Sure, bitcoin cannot be banned but let's say the U.S and the EU decide to ban bitcoin just because Russia is using it to avoid their sanctions (or at least use that as an excuse), what do you think would happen then (if we're talking about the price)?
My thoughts exactly, we've timed the attack absolutely perfectly, and it seems that they've largely executed their plan perfectly too. I'm not completely sure on what their intentions were with promoting Bitcoin the last few weeks, and then obviously launching this war between Ukraine, but I can't help, but think Bitcoin has been a part of their plan for a long time.
There's two ways you could probably think of Russia adopting it in such a way; Either they see it as a threat, and could potentially be wanting to associate themselves with it, then carry out the attack against Ukraine which they were going to do anyway, knowing that if they promoted Bitcoin weeks before, and then its people, as well as Russia try to get around the sanctions via Bitcoin, that they thought it would be banned, which could effectively make Bitcoin inaccessible to any law abiding citizens in the West that would tank the price to almost unrecoverable amounts, which would significantly hurt Bitcoin's ability to recover due to now being known as what Russia used to sidestep the sanctions, as it does seem Russia is public enemy number one right now, especially in the West.
That's probably the far fetched end of the stick, however the alternative is they indeed did intend on using Bitcoin to sidestep the sanctions, but not to drag Bitcoin through the mud, but to use it instead of traditional currencies which they know would become difficult after the attack. Again, if the West did decide on banning Bitcoin collectively, that would probably have similar effects on the price as the sanctions, so would they really benefit from doing it?