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Russia might accept Bitcoin

Russia is talking about a policy to accept Bitcoin and other crypto in exchange for gas and oil.  From what I read, Russia is the second largest producer of oil after the United States.  In order to sell oil and avoid the sanctions, they are tossing around the idea of letting friendly countries like Turkey and China buy energy using their local currency, the Ruble, or even Bitcoin.

That is the most bullish statement I have heard about Bitcoin in a long time.  Imagine India needing to buy a tanker of oil and having to pay in Bitcoin.  Are they going to start buying it now and cost averaging?  Probably not, they are going to need oil and Russia will say we need Bitcoin.  India will buy from one of the big Indian exchanges and we will see Bitcoin shoot up a few grand in a second.

Then another country that needs oil or gas decides to start buying some Bitcoin because its the only way to do business with Russia.  Countries need oil and gas.  There is not enough infrastructure setup in the world to ignore Russia's gas supply to Europe and its oil supply.

Russian may not be able to easy get Coca Cola but that isn't life or death.  If European hospitals aren't able to get power, that could turn into life and death.

I think Putin has this planned out better than we think.  Putin knows that he can't fight door to door and so he is bombing everything.  It is horrible for humanity and the environment but if y ou don't care about life, it is a much better invasion strategy than the typical IDF going door to door.

I believe that Putin will continue until he has secured Belarus and the rest of Ukraine.  Belarus should be easy since Putin appears to be comrades with Alexander Lukashenko, 

Once he is able to create his new empire with Belarus and Ukraine, I think he will stop.  Russia Belarus, and Ukraine make up the historic Kieven Rus'

From my research, an oil tanker can hold up to 500,000 barrels of oil.  That puts it to be about $40 million dollars a tanker in oil and about 900 Bitcoin.  Can you imagine the impact of just 10 oil tankers a day paying in Bitcoin for their oil?

Countries will need to buy Bitcoin on the open market and send it to Russia in hopes of receiving their oil.  In theory, they will need to worry about sanctions and embargoes blocking the flow.

El Salvador adopting Bitcoin allowed the Salvadoran government to purchase 1800 Bitcoin which at current they are ahead.  If countries start to purchase natural gas and oil using Bitcoin, Russia will become the largest holder of Bitcoin in a pretty short amount of time.  The US will need to start buying Bitcoin to keep up with Russia.

If NATO buys Bitcoin and Russia buys Bitcoin, little nobodies like you and me might accidentally get rich by getting in before the big boys.  Speaking of the big boys.  I use Chase JP Morgan to transfer Crypto to Coinbase Pro as my main onramp.  Chase used to allow up to $100,000 deposits per day.  Now they allow only $1000.00.  I have been KYC verified for 5 years with Coinbase.  It is very strange that they are not allowing big transfers.  I have a feeling it is going to become harder to buy crypto for a while as the powerful in this world try to control who uses crypto and where they put it.  It will get to be harder and harder to buy crypto at an exchange and then send it to a wallet.

 

 

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