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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.
Here's also a post, here on SN, where shared is an article from Reuters on this:
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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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In March 2020, bitcoin lost 46% overnight..
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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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