Good evening everyone, how are you doing? Well at the moment cryptocurrency and geopolitics are spilling on each other. And if you saw my card on my profile, it says that I follow geopolitics cryptocurrency among other things. So yeah, it's fun for me because two of my interests are aligning more than ever now. What I'm trying to say is Bitcoin at the center of so many arguments at the moment. We are seeing countries around the world who are trying to make Bitcoin a part of their National reserve. Countries such as Poland, Japan, Germany, Even Germany suggested that the European Union should do so as well. Russia, USA, Venezuela, UAE. These are only the ones that I know of. And the usage of Bitcoin in international trade is a whole new fiasco.
Ago I talked about Russia using Bitcoin as currency in international trade. And said that they are using this system to avoid sanctions. There has been more development on that. And I think we should talk about the realities of the situation, whether it's sustainable or not. Russia had their eyes on cryptocurrency for quite a long time. The same goes for almost all the other countries. But due to all the dark web cases such as Silk road and other things, cryptocurrency had a tainted name. Nations across the globe were banning cryptocurrency. But now times have changed and they're all trying to get aboard the crypto train as soon as possible. Of course given the situation, United States are losing their sleep over Russia being able to continue international trade freely using Bitcoin, Even though they had sanctioned them in almost every way possible. But when it comes to cryptocurrency, regulation isn't as easy as it seems. Most crypto owning companies have somewhat leeway over how their currency operates. And there remains the vulnerability of one country simply requesting to freeze the assets of another, and the action actually taking place. Even USDT and circle are prone to this sort of sanction. But she's against the whole idea of cryptocurrency, but that's the situation we are given now. So none of these mainstream crypto currencies are safe for Russia too. Do the dealings. But Bitcoin however, can be regulated that way. It is maybe the only currency that has enough liquidity and stability and acceptability all while being under no jurisdiction of any company of any given sort, who can put some sort of censorship on it. The only way to circumvent this is to simply own the miners. For example, if you have more than half the miners under your thumb, you can just make them not to mind certain transactions and you can slow down the process at least a little bit. What to tackle this issue as well, Russia is burning their fossil fuel to mine cryptocurrencies at home.
So Russia is really scaling on their cryptocurrency agenda. Usa also now have a pro crypto president starting in a few days. So there's a lot more to take place in the crypto and geopolitics space. Be sure to keep an eye on it. Because it may not define the whole thing, it will really define a lot of things.
