Congratulations America(For Making Russia Adopt Crypto For International Settlements)!

In September 2021, the big news broke... The first country to allow Bitcoin as an exchange currency was El Salvador, and the crypto community rejoiced at this development, believing that a few more would follow suit. We were expecting to see this happen in Venezuela, Argentina, and even Iran.

However, it didn't play out that way. Despite these countries being severely impacted by either inflation or US sanctions, they chose to stick with their native currencies and "endure the pain."

In early 2022, the war in Ukraine began, and with it, the US and EU imposed a slew of sanctions in an effort to weaken Russia as much as possible. However, what these sanctions actually achieved was to strengthen ties between Russia, China, and other BRICS member countries, while also revealing how weaponized the dollar, its hegemony, and the oligarchy of the US and EU truly are.

Fast forward to July 2024, and we have the official announcement that Russia will allow cryptos (any crypto) to be used for international settlements. As I mentioned in my previous post, this topic was discussed on Twitter today, but now it's officially confirmed.

MOSCOW (Reuters) -Russia will carry out its first international payments in cryptocurrencies before the end of this year in order to overcome difficulties created by Western sanctions, the central bank's governor, Elvira Nabiullina, said on Tuesday.

The lower house of parliament is expected to approve the law allowing Russian companies to use cryptocurrencies in international transactions on Tuesday. The new law is expected to come into force this autumn.

"We are already discussing the conditions of the experiment with ministries, agencies and businesses, and we expect that the first such payments will take place by the end of this year," Nabiullina said, adding that the regulator was ready "to show flexibility." '
source

Your move, China...

On a serious note, given the increasingly close ties between China and Russia over the past two years and their determination to curb America's global influence, I wouldn't be surprised if communist countries resumed accepting Bitcoin once again.

Seven years ago, in September 2021, China announced a ban on Bitcoin within its borders, causing the market to plummet instantly. I almost took advantage of the dip at the time... The aftermath saw an epic rally for Bitcoin and crypto as a result.

Russia could benefit from using Bitcoin right now. While it could also do well with the YUAN, the key difference is that Bitcoin isn't dependent on any country or governance system and has proven to appreciate over time, making it ideal for Russia's current economic situation.

I have a feeling we'll see a crypto bull market in the history books over the next year or so. While I believe a severe correction will eventually occur once we peak, I plan to take profits all the way up. The dollar, euro, and other currencies aren't going anywhere; it's just that world powers now have more ways to assert their dominance beyond war and traditional sanctions.

I'll give credit to America for pushing Russia into making this decision... Sometimes, even a kick in the butt can be a step forward, isn't it?

Thanks for your attention,
Adrian