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RE: Russia Starts Bitcoin Mining! Putin Has Clearly Seen The Light And This Could Be Extremely Bullish!
That means the US federal reserve could use bitcoin as the main currency. Could this lead to a dollar crash? and to massive adoption of crypto?
I think the US FED will not intentionally shift to bitcoin, because they can't do quantitive easing with it in order to rob the world (inclusive their own citizen) and fill their own pockets. However if other counties start to buy bitcoin for their treasury the USA will have to follow in order to get it for a good price.
They will know that if every county starts to hold bitcoin, the first will profit huge and the last will buy in extremely expensive, so every country want to be the first when it is clear that it becomes a trend and an armsrace could begin. This will drive the bitcoin price enormously and countries could dump their USD what will lead to a crash.
The next step can be that countries start to do international trade in Bitcoin, where Russia could be a logical first mover because of the sanctions (bitcoins can't be frozen and transactions can't be stopped). When this happens the demand for USD will decrease enormously and the USD will loose its world reserve currency status. This causes the pool of existing US dollars to decrease and the effect of quantative easing on inflation will increase (the amount of printed money is now a relatively bigger part of the existing money). This and the lower demand combined could lead to uncontrollable inflation /hyper inflation.