3 Ways That The Russia-Ukraine Conflict Will Affect The Cryptocurrency Markets — Issue #21
Welcome to Issue #21 of the Crypto Wealth Builders newsletter.
The world has plunged into chaos as the Russia-Ukraine conflict begins. In this article, I’ll discuss the 3 ways that this conflict will affect the cryptocurrency markets.
#1 MASSIVE SELL OFF
According to Coindesk, over the past 24 hours, the crypto markets have seen $242 million in liquidations. This means that many investors still look at cryptocurrency as a risk asset and do not view it as a store of value…YET. Investors are signaling that they’d rather have cash on hand than cryptocurrency.
President Vladimir Putin has recently stated that the Russian military will begin to conduct cyber attacks on the United States. These cyberattacks could target important infrastructure in the United States including the electric grid and payment networks. Blockchain could be a solution for a potential data breach in the United States.
#3 Asset Freezes
The west is freezing the assets of the accounts of Russian billionaires. This action will be a catalyst to Russia using a digital solution to avoid these asset freezes and sanctions. Keep your eyes and ears open for news of a Russian cryptocurrency solution to avoid sanctions from the west.
Thank you for reading Issue #20, and happy investing!