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!
In reality, it is the economy in general that has led to the creation and use of Bitcoin. An economy that is based on debt and more and more debt, which has worked for a few decades but is heading for disaster via high inflation and in which there seems to be no clear exit situation as it is in a catch-22 situation: if central banks adopt strong liquidity restriction policies with large rate hikes, the economy goes to hell. If we continue as we have been doing so far, printing as if there were no tomorrow with some timid rate hikes from time to time and then opening our hands again when there is a bump in the economy, we are only making the bubble bigger, and bubbles end up bursting.