Former Goldman Sachs hedge fund manager and crypto billionaire Mike Novogratz has recently weighed on the crypto market situation amid the ongoing Russia-Ukraine war crisis.
Speaking to Bloomberg on Tuesday, March 1, Novogratz said that the Russia-Ukraine war will serve as a potential booster to Bitcoin and crypto while moving people away from the U.S. Dollar.
Russia has been facing severe sanctions with the world isolating the aggressor from the global financial system SWIFT. As a result, the Russian ruble has lost 40% of its value against the USD over the last week dropping to a multi-decade low. On the other hand, Ukraine has also cut down on the use of local currency and has started accepting crypto donations to fund its war against Russia.
Novogratz believes that such sanctions and curbs are likely to push people towards adopting the decentralized currency. However, he made it clear that it doesn’t mean Bitcoin or crypto serves as a tool to avoid sanctions. During his interview,
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