I don't discuss about geopolitical issues or war here. Let's consider about what is going on and will happen with (against) Russia.
They under the dictatorship of Putin, really invaded Ukraine and ignored all international standards. They are punished by massive sanctions on their bank system and many areas. Because we do know Bitcoin is peer-to-peer, borderless so will Russia do something like North of Korea, trying to use Bitcoin as one of their last resorts?
With Bitcoin, they can avoid traditional sanctions against them. To do this, will they legalize Bitcoin in Russia soon?
Let me say, I hate war!
There are conflicting reports as whether Russia will go on bitcoin to circumvent the sanctions, one school of thoughts say yes, but on the other side, the argument is that since bitcoin is not really accepted they why would they go full blast on
BTC.
Anyway, the price of bitcoin has increased and we've recovered what we have lost from the news. So maybe Russia has started to invest or at least hedge their wealth on bitcoin.