Running for Shelter: War-Torn Ukraine and Russia Turn to Crypto

Editor’s Note: While Chief Income Strategist Marc Lichtenfeld isn’t big on crypto speculation, we understand that many investors are curious about the asset class. So today, we’re featuring an article by Andy Snyder, founder of Manward Press and crypto enthusiast…

Both Ukraine and Russia swiftly adopted crypto in the lead-up to Russia’s invasion, knowing that crypto can slip past crushing asset freezes.

That means crypto investors have a big opportunity RIGHT NOW. The market is trading at a discount… and it has HUGE upside potential as our troubled world becomes more aware of the currency’s benefits.

Whether crypto replaces the dollar or merely supplements it, according to Andy, it’s here to stay. Read Andy’s article below to learn more.

For even more on cryptos, check out the revolutionary new cryptos Andy has dug up. He says they could replace Bitcoin and transform crypto as we know it…

Check out his stunning research here.

– Kyle Wehrle, Assistant Managing Editor

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Crypto has proven its strength once again.

If the world had any doubts about crypto’s powerful role in the future of money or economic freedom… or what it looks like when America prints its way into second place… this is it.

Just days before troops in Europe took to invading their neighbors, something funny happened in the world of money.

Ukraine suddenly legalized crypto.

Russia, too, made a swift about-face and opened its doors to the stuff. Even more, its lawmakers made the move despite concerns from the nation’s powerful central bank.

The timing is good.

For Russia, the money that knows no borders has reentered the country just as big sanctions have kicked in. Biden and his pals may be cutting off the banks and a few rich fellas who use them… but they can’t cut off the decentralized chain of computers that runs the Bitcoin blockchain (at least, not without really mucking up the world order).

Ukraine, too, has obvious reasons to give crypto a nod.

The divided country is in a bit of a rough spot. Its centralized systems have come under attack as its borders have been erased and drawn again.

Bitcoin, of course, offers a reprieve.

“Investments Only”

To be fair, neither country has gone so far as to make Bitcoin legal tender. Even Putin doesn’t want to make those sorts of headlines.

In fact, each country has been careful to craft its message to focus on the investment side of things.

“The use of digital currencies as a means of payment on the territory of the Russian Federation will continue to be prohibited,” Russia’s Ministry of Finance said just a few hours before troops hiked across the border into Ukraine. “Under the proposed regulation, digital currencies are considered solely as an investment vehicle.”

In Russia, speculators must pass a test.

If they have the knowledge their keepers think they need, they can buy up to $7,700 worth of Bitcoin each year.

If they fail, they can buy only $650 worth every 12 months.

There’s been no word on how much Putin or any of his rich cronies are allowed to buy (or take). We figure it’s a much larger sum… especially now that they’ve lost access to their petrodollars.

What’s most interesting about these moves is what each country’s keepers have said about the true value of crypto. Both governments point to the economic power of digital money.

In Russia, it’s all about mining the stuff.

Putin, of course, is a big fan of crypto mining. A month ago, he slammed his fist at his central bank for shunning the idea. Now he’s gone around it.

He says that thanks to Russia’s energy surplus (which just got a whole lot bigger) and its well-trained workers, the country has a “certain competitive advantage.”

Cheap energy, a cold climate (good for cooling computers) and a down-and-out workforce indeed make Russia an ideal place to mint the stuff.

Ukraine, on the other hand, doesn’t seem all that interested in controlling the market. It simply wants the money.

By opening its doors to digital money, it hopes for the “speedy arrival of crypto investors from all over the world.”

Here at home, this sort of turnaround from our economic enemies is quite bullish.

Set for a Boom

It means, as we’ve long said, that any attempts by Washington to ban crypto are out the window. It won’t push the stuff aside and watch our haters create a new form of money.

It also means there will be increased demand for Bitcoin and its crypto brethren.

Large markets that were once off-limits are now open again.

The price of Bitcoin hasn’t reacted all that much to the news. Other headlines are dominating the trade.

That’s fine.

It’s good, in fact.

It means today’s buyers are getting a discount. But once demand starts to rise and the market sees the effect of this wave of fresh buyers, the discount won’t last.

Wars can do crazy things to an economy.

They tend to do even crazier things to its money.

Even if you’re not a crypto zealot, this is a story to watch.

Big money – and the fate of money – is in play.

Be well,

Andy

P.S. We have our eye on three cryptos that could soar because of what’s happening. Before you think about buying Bitcoin… you must watch this short video.