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“Cryptocurrencies are not like stocks” –Paul Ebeling
Bitcoin (BTC) has outperformed most traditional asset classes, including safe-haven fiat currencies like JPY and CHF, which are generally viewed as geopolitical hedges.
It turns out that during this time of crisis and chaos, cryptocurrency is showing its real nature, proving it is not just another traditional asset.
Crypto’s nature as a borderless currency allowed Ukraine to raise millions of dollars in crypto to support its army and hacktivist groups. Even the Ukrainian government is accepting donations in BTC, ETH and USDT, having raised more than $63-M.
The reliance on traditional banks becomes increasingly difficult when governments are in chaos. In both Russia and Ukraine, ordinary people are turning to crypto as an alternative to financial institutions that restrict their access to foreign currency and bank accounts. The people seek an anonymous system without government involvement.
Crypto was invented to be Neutral. It was designed so that no country, government, bank or other institution would be able to prohibit its use.
Crypto should not be about picking sides when it comes to who can use it, as it exists to serve people outside politics, not governments. It unites the world, and it knows no nationality or borders. While government institutions fail ordinary people during times of war or crisis, crypto reveals its true nature; a blessing for humanity.
Have a happy, prosperous day, Keep the Faith!