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!
Bitcoin can support Russian economy - possible!
Bitcoin can replace Rubble - impossible
It is very much possible for Russia is adopt bitcoin post war days to take its economy back in track due to various sanctions. They can even encourage mining activities within their territory to fight the bad times.
But if there is a question of replacing rubble, that's not going to happen! Russia has several resources available that are valuable to the rest of the world. So Russia can simply stop accepting any other currencies except Rubble for any export.