Microstrategy CEO: Wars Create Inflation Making BTC Compelling 14

Microstrategy CEO: Wars Create Inflation Making BTC Compelling

  • Michael Saylor has pointed out that wars create inflation, cripples commerce and make Bitcoin compelling
  • Bitcoin has already proven to be an alternative in Ukraine for its citizens and residents
  • Two Danish reporters in Ukraine bought a car with Bitcoin after ATMs stopped working
  • Over $4 million in digital assets has been donated to aid in the crisis in Ukraine
  • Crypto.com has donated $1 million to the Red Cross to aid in the humanitarian effort
  • FTX had earlier gifted $25 to Ukrainians using the platform

The CEO of Microstrategy, Michael Saylor, has pointed out that wars create inflation and cripple commerce. According to Mr. Saylor, this in turn makes Bitcoin (BTC) compelling as it serves as an alternative to hedge against the said inflation.

Michael Saylor shared his insights on Bitcoin through the following tweet.

2 Danish Reporters Leaving Ukraine Use Bitcoin to Buy A Car

One instance of Bitcoin being used as an alternative was documented when two Danish reporters used BTC to buy a vehicle that they used to drive out of Ukraine. The two reporters, Stefan Weichert and Emil Filtenborg, had to use Bitcoin (BTC) after ATM’s in Dnipro (central Ukraine) were no longer functional. The two gentlemen then decided to purchase a Mazda 3 for 0.059 Bitcoin (BTC).

They explained the situation on the ground as follows:

You can see that many people walk around the city to withdraw money. The ATMs are down. We have spent the day getting fuel and spare parts for the trip. But it was hard to get parts. There were no more gas cans left, they are hoarded.

Crypto Donations to the Ukraine Crisis, Hit $4 Million

In terms of assisting the country of Ukraine, the crypto community has donated over $4 million in digital assets since Russia invaded the country. This amount includes one single Bitcoin (BTC) donation worth $3 million. The donations have been directed towards NGOs and volunteer groups that are doing their best in helping those affected by the conflict.

Crypto.com Donates $1 Million to the Red Cross

Earlier today, the CEO of Crypto.com, Kris Marszalek, announced a $1 million donation by the company to the red Cross. He also urged the crypto community ‘to do what they can to support humanitarian efforts.’

FTX Gifts $25 to Each Ukrainian Using the Platform

Early Friday, the CEO of FTX, Sam Bankman-Fried, also announced that the crypto-exchange had gifted $25 to each Ukrainian on the platform. He made the announcement of the gift to Ukrainians on the platform through the following tweet.