In a desperate search for financial stability, Russia announced it would start to accept Bitcoin and gold as payment for its gas. That’s huge for the crypto market. I’ll show you why.
The Most Important Document Of Tom Busby's Career
In his illustrious career, Tom Busby has published three celebrated books on trading…
Because Tom is sharing the details on his Sunday Night Blueprint, which he calls the #1 reason for his success over the last 40 years.
In fact, it’s the cornerstone of the top-performing, longest-running trading system he’s created, and allows him to have his entire trading week planned out by Sunday night.
I don’t mean to beat a dead horse but, yes, this is another “age of adoption” crypto email! Ha!
But it’s important!
So, yesterday, Pavel Zavalny, the chairman of Russia’s Congressional energy committee, admitted in a press conference that the country would be open to accepting BTC or gold for its oil.
This comes in the midst of the nearly-universal sanctions against the Russian economy and the Ruble, which is currently valued at just under one cent to the dollar.
It’s not necessarily surprising that a cash-strapped company is turning to commodities as an alternative.
But this is significant for two reasons:
First, it’s interesting to see them rank crypto and gold as roughly the same. It means a lot to hear crypto talked about in that way.
Maybe it’s a “beggars can’t be choosers” situation, but either way, it still feels important.
But maybe even more importantly, it directly counters something Putin said last year when he admitted Bitcoin “has value” but said, “I don’t believe it can be used in the oil trade.”
Well, circumstances have changed, and so, apparently, has Russia’s stance.
It seems this change was reflected in Bitcoin’s price, which climbed yesterday.
Here’s the one-hour chart from the last 24 hours or so (remember that Bitcoin trades 24/7):
The whole Russia situation has been interesting for crypto in a number of ways.
Next week, I’ll host a special workshop to talk about some major crypto mistakes to avoid! Keep your eyes peeled for an invite.
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
0 Response to "Russian gas crisis fuels BTC climb"
Post a Comment