While the Russia-Ukraine crisis is crushing stocks around the world today, it’s also creating an opportunity for the commodity and cryptocurrency markets…
Russia has officially invaded Ukraine and investors are spooked…
Even though President Biden has already ordered American troops and fighter jets into Eastern Europe to assist NATO allies and deter further aggression from Moscow, that hasn’t stopped investors from selling stocks…
The S&P 500 is down 2.6% premarket. The Dow Jones is down 2.5%. And The NASDAQ is down 3.2%…
Meanwhile, the CBOE’s VIX volatility index, which tracks anticipated swings within the S&P 500 is up 28.5%, hitting a reading of 37. This indicates that market volatility is expected to increase even further amid ongoing geopolitical uncertainty.
While the U.S., European Union, and other allies are going to place heavy economic sanctions on Russia, Putin is unfazed and is even willing to fight back…
In a speech he gave earlier today, Putin said, “Whoever would try to stop us and further create threats to our country, to our people, should know that Russia’s response will be immediate and lead you to such consequences that you have never faced in your history. We are ready for any outcome.”
In this case, oil prices should continue surging higher, adding to growing inflationary pressures worldwide – as Russia is one of the largest crude producers and exporters.
Crude oil is up 8.1% today in the premarket…
All this conflict is certainly hurting Russia’s economy and stock market in the short term – the MOEX index was down as much as 45% earlier today.
However, that’s why Russia signaled it may be banking on Bitcoin to avoid economic woes. Investing in it outright, and using it to trade oil…
Earlier this month, a Chinese news service reported that Russian President Vladimir Putin sent a letter to China that detailed ongoing trade between the two as well as the possible adoption of Bitcoin to avoid western sanctions.
While Russia’s central bank had previously discussed banning the cryptocurrency, Putin pushed back on the idea.
That’s because Putin seems to see the value that Bitcoin can offer in its ability to trade oil that can’t be tracked or controlled by using the dollar. And Russia’s finance minister Anton Siluanov understands that banning crypto would be like “banning the Internet” – impossible.
Now that the Russian and Ukrainian governments have approved the legalization of cryptocurrencies, Russia could ultimately continue conducting international business – regardless of growing geopolitical tensions and sanctions from the U.S. and its allies, because Russia wouldn’t have to rely on the dollar.
So, even though Bitcoin is down 9% today, anyone who truly understands it knows that this is one of the best buying opportunities we’re going to get in the long run.
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