Can the Russian War War promote encrypted currency adoption and US dollar marginalization?

Mike Novogratz, CEO of Digital Asset, Galaxy Investment Partners, predicted that Russian War will promote the adoption of encrypted currencies and lead to the edge of the US dollar.

“From many ways, this is a big event. This will begin to accelerate the world’s dollar,” he commented.

This billionaire US investment banker clearly stated in a pusher on February 25 that he was in Ukraine in this war. He also shared a photo with Kyiv Chang Vitali Kriccho (Vitali Klitschko) and said: “I am very sympathetic to meet the Russian of Kericico.”

Bitcoin prices have witnessed sudden soaring, with a level of less than $ 40000 within two days to far over $ 44,000. Novogratz predicts that after this war, the importance of dollars relative to bitcoin and other digital assets will gradually decline – this is correct, and its value fell by 25% in one day.

Encrypted currency boost, the edge of the dollar

According to Bloomberg report, Novogratz believes that this war may “push more ordinary people to encrypted currency.” However, with the view of the Ripple CEO Brad Garlinghouse, he believes that Bitcoin will not be used as a variety of ways to deal with Russia’s implementation of severe sanctions.

People want to find a currency that “can play a role in war”. Novogratz pointed out that the sudden rise in Bitcoin-Ruble and Bitcoin-Grifner trading is an example.

“Many people want to have money outside the traditional power. This is the reason why Bitcoin is created,” Bloomberg invoked Novogratz.

Novogratz long-term bits

Michael Novogratz has long been looking at Bitcoin for a long time. In December last year, he said in an interview with CNBC, Bitcoin’s volatility will gradually decline, it will become a more stable digital currency. In January last year, his company Galaxy Digital involved Bitcoin mining business and provided financial services for miners.

In March 2020, when the transaction price of Bitcoin was $ 3,500, he predicted that the encrypted currency will soared to $ 20,000 at the end of 2020. BTC’s performance beyond his expectations and closed at a price below $ 30,000.