Bill Miller, a billionaire investor, says that Russia would likely turn to Bitcoin to reclaim control of their resources. Western sanctions have now blocked Russia's foreign exchange reserves. Bitcoin is frequently regarded as a superior "digital gold" that can partially or completely replace national currencies.
What are your thoughts and opinions on this? I would love to hear it!
There is a strong possibility that Russia can be using Bitcoin to go around the economic sanctions that it is facing right now and into the future. However, we have to understand that all of these things had have been planned ahead by Putin as he is a truly smart though now so ruthless politician, tactician and a warrior. Another aspect that we should look at is that there can be a China-Russia axis as a result of this because China could not live without the oil from Russia...and if you look at it now even USA have not yet cut off the oil ties with Russia and all that we hear of strong speeches coming from White House is lacking the teeth and all because under Biden they forego of energy independence because of the pressure coming from the left-leaning Democrats. The way it is now, sadly it is Putin's game and should we be celebrating if he will decide to make Bitcoin so legal in his country once and for all?