Alex Coin 
The billionaire investor believes that more than ever before, the potential of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. as a safe haven asset.
***
Billionaire investor Bill Miller has been one of many ultrarich people in the world to champion cryptocurrencies, especially Bitcoin. In fact, a month ago I was explaining why I invested in BTC and why considered it an “insurance policy against financial catastrophes”. . He holds half of his capital capital is most commonly defined as the large sum of money you would use to invest. in the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency. Now, after Russia’s invasion of Ukraine, Miller has only ratified his position to consider the importance of this crypto in the world.
In an interview with the program Squawk Box of the chain CNBC, Miller talked about the potential of Bitcoin to serve as a safe haven asset during periods of international unrest . The American investor explained why Russia and other nations that don’t have an unreserved currency could turn to Bitcoin to combat inflation that is impenetrable to a foreign government’s control.
“Russia has 16% of its 640 billion reserves in dollars, 32% in euros. They have almost 50% of their reserves in currencies controlled by people who want to hurt them. From Russia’s point of view, that’s not a great position to be in. They have 22% in gold and that’s the only part of their reserves that other countries can’t control.” he said and CNBC broadcast it on Twitter:
“They have almost 50% of their reserves in currencies that are controlled by people who want to do them harm…they have 22% in gold that is the only part of their reserve that other countries can’t control,” says Bill Miller on Russia. “It’s very bullish for #bitcoin .”pic.twitter.com/zWihekfeyk
— Squawk Box (@SquawkCNBC) March 2, 2022
Following the record fall of the ruble on Monday, February 28, the Russian central bank implemented emergency measures that included a significant increase in interest rates from 9.5% to 20%, the media reports. Finbold.
According to Miller, who was analyzing the price of Bitcoin believes that due to the current geopolitical situation surrounding Russia “is very bullish for Bitcoin”.
“If you’re a country that has an unreserved currency currency is a medium of exchange that defines value. (there are about 100) you might think of something else that other countries can’t hurt us, that is impervious to inflation a general increase in prices and fall in the purchasing value of money. or that is manufactured in larger quantities. So I think (the current situation) is very bullish for Bitcoin in particular.”
Ruble crisis
Earlier this week, Russian President Vladimir Putin planned to hold crisis meetings with his top economic advisers after the ruble plunged to a record low against the U.S. dollar.
On February 28, the Russian central bank also more than doubled interest rates to 20%, as analysts now predict that the Russian economy will contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. by 5% this year.
The latest round of sanctions, imposed by the United States, the European Union, the United Kingdom and Canada on Russia, expelled the nation from the interbank network a network refers to all nodes in the operation of a blockchain at any given moment in time. SWIFT, con la intención de “paralyze” the assets of its central bank.
As a result of the collapse of the Russian national currency, the volumes of trade between Russia and the Rublo-Bitcoin (RUB/BTC) reached a maximum of 9 months, says Finbold; however, the volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. of the hryvna (Ukraine’s national currency) on the cryptomarket has also reached record levels, as it has been severely affected.
It is worth noting, as you have been reporting DiarioBitcoin, than at the start of the war last week, Bitcoin and the crypto market an area or arena, online or offline, in which commercial dealings are conducted. in general suffered from a sharp drop Luego levantó alcanzando Bitcoin ayer prices over USD $44.000 . Today, when it is 6:00 am in New York, the price of BTC dropped a bit a bit is a basic unit of information in computing. and is at USD $43,220, down 1.93% from yesterday at the same time, according to data from CryptoMarkets .
Sources: CNBC , Finbold , archivo
Version of DiarioBitcoin
Imagen de Unsplash (edited)
