Ukraine devalues its currency by 25% against U.S. dollar.
43 million Ukrainians lost 25% of their savings overnight.
Never would have happened if they had kept most of it in Bitcoin as no one controls it.
0 sats \ 0 replies \ @cryptocoin 21 Jul 2022
Here's also a post, here on SN, where shared is an article from Reuters on this:
Ukraine devalues hryvnia currency by 25% against U.S. dollar
#47708
https://www.reuters.com/markets/rates-bonds/ukraines-central-bank-devalues-hryvnia-by-25-against-us-dollar-2022-07-21/
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0 sats \ 0 replies \ @KingZing 21 Jul 2022
It's just the official rate. there's no way a nation at war not having their currency hammered. that goes for rubles as well. but their wealth don't vanish by 25%, a "weak" currency is good for export/economy
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0 sats \ 1 reply \ @pi 21 Jul 2022
In March 2020, bitcoin lost 46% overnight..
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0 sats \ 0 replies \ @cryptocoin 21 Jul 2022
I remember!!!
So glad I dumped all my BTC at $8,000 right before that happened!! I'll buy back when the bitcoin exchange rate stops being so damn volatile!!!
/s
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