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War, according to Michael Saylor, CEO of Microstrategy, causes inflation and cripples business. According to Mr. Saylor, this makes Bitcoin (BTC) appealing since it serves as a hedge against the aforementioned inflation.
In the following tweet, Michael Saylor gave his thoughts about Bitcoin.
Wars create inflation, cripple commerce, and make #bitcoin compelling. pic.twitter.com/YksI21FcXS
— Michael Saylor⚡️ (@saylor) February 24, 2022
When two Danish reporters used Bitcoin to buy a vehicle to drive out of Ukraine, it was noted as an example of Bitcoin being utilized as an alternative. After ATMs in Dnipro (central Ukraine) stopped working, the two reporters, Stefan Weichert and Emil Filtenborg, had no choice but to use Bitcoin (BTC). After that, the two gentlemen decided to buy a Mazda 3 for 0.059 Bitcoin (BTC).
The following is how they described the situation on the ground:
“You can see that many people walk around the city to withdraw money. The ATMs are down.”
“We have spent the day getting fuel and spare parts for the trip.”
“But it was hard to get parts. There were no more gas cans left, they are hoarded.”
Since Russia invaded Ukraine, the cryptocurrency community has donated over $4 million in digital assets to help the country. This total includes a single $3 million Bitcoin (BTC) gift. The funds have gone to non-governmental organizations (NGOs) and volunteer groups that are doing their utmost to assist those who have been affected by the crisis.
Kris Marszalek, the CEO of Crypto.com, announced a $1 million donation to the Red Cross earlier today. He also urged the cryptocurrency community to “do all they can” to help humanitarian operations.
Sam Bankman-Fried, the CEO of FTX, also revealed on Friday that the crypto-exchange has given $25 to each Ukrainian on the platform. He announced the gift to Ukrainians on Twitter with the following tweet.
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