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!
The impact of having heavy economical sanctions in a country can quite be costly- it will be relatively harder and difficult for the people in Russia to transact and purchase goods within their area. Inflation will rise and all of the costs of goods would definitely spike-up due to having scarce resources on their countries.
This is where BTC can step in. Its application can somehow support Russian citizens to purchase goods outside their country by transacting and using BTCs. I do think that BTC can have an impact to this war especially on its price.