Global De-dollarization Accelerates as Putin Backs the Plan, Another Hope for Bitcoin?
Global de-dollarization has been active for years as countries like Russia, China, Iran, and others find ways to insulate themselves from the US sanctions. Now, Russian President Vladimir Putin has reportedly backed the de-dollarization plan. What do mean it for Bitcoin and cryptocurrencies now?
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If Putin is behind it, bet the ranch it will be some type of government (Russia) controlled mechanism.
This move means little for BTC and the crypto world. In my view, it is government trying to control it.
We will see the real answer to this in crypto. The people of some of the sanctioned countries are using it to get around things. Also, in countries with fiat that is trash, Venz and Arg, crypto is a miracle.
As the article puts it, Bitcoin and cryptos just might offer that sense of security and become a potential alternative choice.
Oh well. They are trying to be away from the ruling Dollar. Still, crypto should lead. Let's support cashless society.