Subscribe To Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022
    Facebook Twitter Pinterest LinkedIn
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Bitcoin
    • NewsWire
      1. Latest News
      2. Top Stories
      3. Features
      4. What’s Hot
      5. Must Read
      6. Trending
      7. Spotlight
      8. Editors’ Picks
      9. View All

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      El Salvador’s Companies Barely Bother With Bitcoin

      March 19, 2022

      New Jersey legislation aims to prevent public officials from being gifted NFTs

      March 18, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Crypto’s Preferred Currency for Political Donations Isn’t Bitcoin. It’s Dollars

      March 19, 2022

      Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

      March 18, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Russia-Ukraine War Is Bringing Out the Good, Bad, & Ugly of Cryptocurrencies

      March 18, 2022

      The ‘world’s most advanced’ digital human wants you to buy her NFT art

      March 15, 2022

      FTX crypto exchange wins license in Dubai to open regional headquarters

      March 15, 2022

      Crypto Startup Founded by Ex-Meta Employees Raises $200 Million

      March 16, 2022

      U.K. Crime Agency Wants to Regulate Crypto Transaction Mixers

      March 15, 2022

      A Wall Street Quant Turns His Crypto Firm Into a Unicorn

      March 14, 2022

      Standard Chartered’s crypto custodian to help clients earn yield on token holdings

      March 14, 2022

      Man passing as UN affiliate convicted for crypto scheme

      March 18, 2022

      The Future of Crypto Is Boring — and Bright

      March 15, 2022

      Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

      March 15, 2022

      Binance Wins Crypto Licenses From Dubai, Bahrain

      March 15, 2022

      Why Bitcoin’s Environmental Problems Are So Hard to Fix

      March 16, 2022

      Americans Want Crypto From Their Banks

      March 15, 2022

      Why Decentralized Exchanges Are Important in the Crypto Economy

      March 10, 2022

      Binance plots M&A spree as regulators scrutinize crypto trading unit

      March 10, 2022

      Amid New Executive Order, White House Director Sheds Light On Crypto Policy

      March 16, 2022

      Bitcoin Evangelist Saylor Tells Economists Why They’re Wrong

      March 15, 2022

      Crypto Mania in Texas Risks New Costs and Strains on Shaky Grid

      March 15, 2022

      Bitcoin’s scared of commitment, Mr. Biden

      March 15, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022
    • Altcoins
      • Ethereum
      • XRP-Ripple
      • Solana
      • Dogecoin
      • Cardano
      • Shiba Inu
    • Topics
      • Cryptocurrencies
      • Investments
      • Markets
      • NFTs
      • DeFi
      • ETFs
      • DAOs
      • Crypto Regulation
      • Metaverse
      • Blockchain & Web3
      • Blockchain Gaming
      • Crypto Exchanges
      • Crypto Mining
      • Stablecoins
      • Cybersecurity
      • Digital Currencies – CBDC
      • Crypto Book Reviews
      • Technology
      • Internet of Things
    • Opinions
    • Explainers
    • Press Releases

      Former Uber LatAm Head of Policy Leads Crypto Ride-Hailer Drife Toward Planned Global Expansion

      March 7, 2022

      European index provider for crypto assets Vinter raises $3.4m funding

      February 22, 2022

      PR – British crypto processor brings in $60 million for expansion in Europe

      January 25, 2022

      PR – CoinMENA obtains 2nd crypt0 license from European Union

      January 25, 2022

      NFT investment specialist looks to acquire Pluto Digital for £96m

      January 24, 2022
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Home»Bitcoin»Bitcoin Reveals Its Intrinsic Value To The Rest Of The World
    Bitcoin

    Bitcoin Reveals Its Intrinsic Value To The Rest Of The World

    By Rufas Kamau
    March 1, 2022By Forbes3 Mins ReadNo Comments
    Facebook Twitter LinkedIn Pinterest Reddit WhatsApp Email Tumblr VKontakte Telegram
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email LinkedIn Tumblr Telegram

    In recent global events, Bitcoin has continually shown its value by providing ready solutions to different people facing different challenges in the world. This varies from the Freedom Convoy receiving donations in Canada to the Ukrainian refugees crossing to Poland to flee the Russian invasion.

    Upon learning the news of the war in Ukraine, many Ukrainians ran in fear to the closest Polish border leaving behind any belongings and pets. In the midst of the panic exit, banks closed down and ATM machines ran out of cash.

    Donate to RareHippo Now!

    This means that the only way for Ukrainians to buy food and afford travel was through the cash at hand and the lucky few who had a stash of Bitcoin in their wallets.

    For the Ukrainians who had family, friends, and well wishers send them money via bank, they could not access it in time and had to resort to the Bitcoin network for transfers.

    The Ukrainian government has received over $24.6 million in crypto donations from over 26,000 donors, according to Blockchain analytics firm, Elliptic. This is evidence of the utility offered by Bitcoin and other cryptocurrency projects to solve individual and statewide challenges.

    On the other side, in Russia, the resulting sanctions from the Western world led to a massive increase in Russian Ruble supply which saw the Ruble collapse over 27% on Monday. Russian savers panic sold the Ruble and bought foreign currencies that had a better store of value.

    Even through the Central Bank of Russia hurriedly hiked interest rates from 9.5% to 20% to control the runaway inflation, Russians could be seen queueing at cashpoints to withdraw money so they can spend it to avoid losing more value. This resulted in higher demand for Bitcoin and the US dollar.

    Rising fuel prices have mounted further pressure on the Turkish Lira which is currently undergoing a full-blown crisis. The Lira has lost over 40% against the dollar in the last 12 months and the Turkish people have turned to Bitcoin as a store of value.

    Even though Turkey is considering limiting the Bitcoin/Turkish Lira trades to avoid capital flight, the citizens who bought a significant exposure in Bitcoin have enjoyed an umbrella of safety from the fragile Lira, according to crypto news site, CoinDesk.

    After GoFundMe froze over $7.9 million worth of donations to the Freedom Convoy protestors in Canada, the truck drivers had to resort to censor-proof Bitcoin and other cryptocurrencies to receive donations.

    Even though an Ontario Superior Court has issued an order to freeze the donations making it difficult for the protestors to convert the Bitcoin to cash through banks and exchanges, the freedom and level of utility provided by Bitcoin has been well demonstrated.

    As a result of the events in Canada, Warren Davidson (R-Ohio), a US congressman, has pushed a “Keep your coins” act to prevent the government and government agencies from ever limiting an individuals ability to buy and sell cryptocurrencies for own purposes through a self hosted wallet.

    In Ukraine, Russia, Canada, and Turkey, the people who have turned to Bitcoin as a solution to their differing problems have come to understand the intrinsic value of Bitcoin and other cryptocurrencies and their unique circumstances may be a significant milestone in the Bitcoin adoption story.

    Read full story on Forbes

    Bitcoin
    Previous ArticleAuthentic Brands Eyes Push Into Clothing, NFTs to Boost Reebok
    Next Article Crypto is ‘Double-Edged Sword’ Amid War, Circle’s Allaire Says

    Related Posts

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 20221 Min Read

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 20223 Mins Read

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 20224 Mins Read

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 20225 Mins Read

    Wall Street Reluctantly Embraces Crypto

    May 1, 20225 Mins Read

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 20225 Mins Read
    Add A Comment

    Leave A Reply Cancel Reply

    Donate to RareHippo Now!
    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022
    Follow US & Win Prizes
    • Facebook
    • Twitter
    • LinkedIn
    • Pinterest
    Don't Miss
    Cardano

    What are altcoins and how are they different from Bitcoin?

    January 20, 20224 Mins Read

    When Bitcoin was launched in 2009, it raised eyebrows and evoked a sense of confused…

    2 Cryptocurrencies That Have Trounced Bitcoin & Shiba Inu During Crypto Crash

    January 12, 2022

    US and UK gather the pieces needed for clearer crypto regulation

    January 11, 2022

    What Silicon Valley sees in NFTs

    February 12, 2022

    Subscribe to Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Crypto news & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Privacy Policy
    • About Us
    • Donate to RareHippo
    • Get In Touch
    • NewsWire
    © 2023 RareHippo. Powered by 8 Dimensions

    The content of this website is for informational purposes only and is not intended as a substitute for investment or financial advice.

    Type above and press Enter to search. Press Esc to cancel.