France, Germany, and Poland have recently decided to strengthen their military assistance to Ukraine at the “Weimar Triangle” meeting held in Berlin. French President Macron even revealed that he did not rule out sending ground troops. If the scale of the war expands, how will Bitcoin perform?
(Summary:
Cryptocurrency triggers “Russian-Ukrainian War Purge”? Ukraine dismissed “all conscription center officials” due to corruption.
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(Background:
Ukrainian government uncovers “Bitcoin corruption case”, former head of the National Special Telecommunications Bureau involved in embezzlement of 1.7 million euro in online funds.
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According to reports from foreign media, during the recent “Weimar Triangle” meeting held in Berlin, Germany, France, and Poland reached a consensus and decided to increase military assistance to Ukraine in the “Russian-Ukrainian War” as soon as possible, providing timely help to the Ukrainian army in need of weapons and ammunition resources.
It is worth noting that French President Macron revealed in an interview with Le Parisien that he did not rule out sending ground troops. Finnish Foreign Minister Elina Valtonen also stated on the 16th that it is not ruled out that the Finnish military may enter Ukraine to assist in resisting Russian aggression.
The Weimar Triangle is a political cooperation platform established by Germany, France, and Poland in 1991, aiming to strengthen the relationship between Eastern European countries and the European Union and NATO. After the Russian-Ukrainian war, the three countries have resumed this model.
Multiple countries including the United States, the United Kingdom, and South Korea have initiated the evacuation of their citizens.
What is noteworthy is that the United States recently suddenly began to withdraw embassy personnel in Russia, and then NATO member countries including Germany, the United Kingdom, South Korea, and Canada subsequently announced evacuation plans.
This has led to speculations that NATO is deploying sanctions against Russia in advance. Evacuation actions usually occur in major conflicts or pre-war preparations to protect local expatriates.
Will Bitcoin skyrocket or plummet?
The tense geopolitical situation often brings greater uncertainty to the global economy. Once a war breaks out, it will exacerbate market concerns about inflation, soaring oil prices, and supply chain disruptions. It will also lead investors to turn to safe-haven assets such as Bitcoin and other cryptocurrencies.
Looking back at the outbreak of the Russian-Ukrainian war at the end of February 2022, Bitcoin experienced a short-term surge and approached $44,000. However, if the war expands, even spreading to the entire European continent, it will undoubtedly cause global economic turmoil and supply chain disruptions. It is also likely to severely hit global risk products. This is something we should continue to pay attention to.
Further reading:
Financial Times warns of “inflation and credit risks intensified by the Russian-Ukrainian war”! MicroStrategy CEO: Bitcoin will become more attractive as a result.
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