Bitcoin soared nearly 15% as Russian and Ukrainian began to sell Bitcoin, surpassing the $43,000 mark.
As of 9:40 a.m. on the 1st (GMT+8), Bitcoin is recording $43,135, up 14.52% from 24 hours ago on CoinMarketCap. It is the first time since February 17 that Bitcoin has surpassed the $43,000 mark again.
Bitcoin is trading at up to $43,760 and at lowest of $37,518.
Bitcoin is soaring on the same day because Russians and Ukrainian people are buying a large number of cryptocurrencies as sanctions against Russia have been tightened, including the West’s decision to oust Russia’s Swift (International Settlement System).
A large number of Russians are buying cryptocurrencies such as Bitcoin due to Western sanctions against Russia, and Ukline, whose financial system has been paralyzed by the war, is also collecting cryptocurrencies.
In particular, Russians are bent on purchasing cryptocurrencies such as Bitcoin as the rubles plunged nearly 30% due to Western sanctions.
The U.S. government warns that Russia will also sanction the cryptocurrency exchange because it can finance it with cryptocurrency, but Russians continue to purchase bitcoin as Binance, the world’s largest exchange, continues to allow Russian individuals to trade outside the sanctions.
For this reason, cryptocurrency seems to be rallying despite the escalating ukra crisis, with Russian President Vladimir Putin threatening to use nuclear weapons against Western sanctions.
Up to last week, Bitcoin still received many doubts on its title as the digital gold since its price kept falling during the first days of Russia-Ukraine war.
