The features of Bitcoin allow war refugees have total power over their money. The war between Russia and Ukraine highlights all the advantages of a currency like Bitcoin.
The case of a user who fled from Ukraine during the war with Russia and managed to take all his money with him became famous because he possesses Bitcoin.
Francesco Madonna, CEO of the Helios Fund firm, went to Twitter to highlight that one of his employees managed to leave Ukraine a few moments before a ban on leaving the country applied to male citizens between 18 and 60 years of age became active.
This man managed to store his bitcoins in a hardware wallet and flee directly to Poland, a nation that shares borders with Ukraine and where he intends to go to an ATM to turn said BTC into fiat money.
In a series of displayed text messages, this person highlighted that he couldn’t withdraw his money because the banks were completely inactive. He managed to purchase 600 dollars, but the national entities obstructed every international transaction, and he couldn’t even send those funds to a country like Poland.
According to CoinATMRadar, a tool he used to locate ATMs, there are 171 Bitcoin ATMs in Poland. Madonna said that Bitcoin saved his life. If he had wasted his time trying to get the cash he needed at the moment, he would have missed the opportunity to cross the border and be forced to go to war.
The Ideal ally of Ukraine
Ukraine is facing this war without the support of its allies, but Bitcoin paved the way for the European country to find new ways to finance their supplies.
At least 113 BTC entered the country as donations intended to back up the Ukrainian cause. At the same time, the Patreon platform obstructed some gifts that got sent to finance weapons and military equipment.
Some nodes of Lightning, Bitcoin’s second layer network, could receive damage, and the price of BTC might crumble down due to fear in the market environment. Its technological features make it the best item to deal with the slashes of the war.
Due to its deflationary features, fully transparent transaction log, a shield against censorship, and ease of trading; bitcoin stands out as the ultimate financial item.
Amid an economic and political conflict, the affected citizens are looking for more than just tools to shield them against the horrors of war, but also for items that could make their routines easier in times like this; bitcoin shines due to its versatility.
Purchasing futures in gold or jewelry to keep capital safe would be possible with Bitcoin. Still, it’s also likely that some will see value in bitcoin’s features to bring citizens power over their money.
By:Jenson Nuñez
