From the start of the Russian invasion of Ukraine, the whole world watched the devastation and answered. While many civilians feel helpless in this uncertain and disheartening time, some people have found a way to lend a hand. Concerned people from all over are sending support in more ways than one.
One way people are helping is by sending Bitcoin donations. Sending Bitcoin has helped to fund supplies and medicine for the Ukrainian people. These donations and likes are beneficial for the Ukrainian troops, including a beauty queen, a former millionaire boxer, and the mayor of Kyiv himself. There is even the story of an 80-year-old man who enlisted to fight against the invasion. What a noble soul? He brought a few shirts and some sandwiches with him as he showed up to get his AK-47. Cryptocurrency donations have helped to make this possible!
Tough Sanctions Slow Invasion Efforts
As you may already know, Russia is barred from trading and banking nearly everywhere, worldwide. These strict limitations are the result of brutal sanctions imposed upon Russia for invading Ukraine. History may have taught us that one way to stop a war is to cut off resources. Sanctions imposed upon Russia have been a practical move for the U.S., the U.K., Canada, and the European Commission.
Germany has even halted certification of the Nord Stream 2 Baltic Sea pipeline, which will stop the flow of gas from Russia to Germany. It’s a high-stakes economic decision Germany made to make an economic impact on Russia and hopefully turn them around.
U.S. Secretary of the Treasury Janet L. Yellen,
“Treasury is taking serious and unprecedented action to deliver swift and severe consequences to the Kremlin and significantly impair their ability to use the Russian economy and financial system to further their malign activity.”
Crypto Donations Offer Hope
While sanctions have effectively crippled Putin’s efforts, Bitcoin has effectively funded Ukraine. Those women and men showing up to fight against the invasion come empty-handed. They have no training, and most don’t even have weapons. The crypto that has poured in has effectively armed them and fed them. It has also effectively supplied them with medical supplies to save lives.
While war is ruthless and there will always be casualties, Bitcoin has found a way to shine a beam of hope amid chaos. And because it is the choice of currency to fight against the invasion, we’ve seen its value rise. The value of BTC has increased by $10,000 in just the last few days. That means that every dollar sent in crypto rose in value and became more capable of helping Ukraine. What a phenomenal piece of history we are standing on at the moment!
As humanitarians, our hearts go out to the people of Ukraine. We hope that we can all start working toward solutions and making amends. As a financial observer, though, we can’t help but be in awe of Bitcoin’s effectiveness.
HODL a secure currency that works in any situation. Choose Byte Federal. Go bank, Yourself!