Ukraine tweeted it was "now accepting cryptocurrency donations." In two days, $12 million worth of Bitcoin, Ethereum, and USDT poured in
Comment of the Day

February 28 2022

Commentary by Eoin Treacy

Ukraine tweeted it was "now accepting cryptocurrency donations." In two days, $12 million worth of Bitcoin, Ethereum, and USDT poured in

This article from Fortune.com may be of interest. Here is a section:
 

On Saturday, the official Twitter account of Ukraine tweeted that the country was “now accepting cryptocurrency donations” as it urged people to “stand with Ukraine,” and provided links to two crypto wallets. According to the tweet, Ukraine is accepting donations in Bitcoin, Ether, and USDT—the last one a so-called stablecoin pegged to the U.S. dollar.

By Sunday, Ukraine’s two official crypto wallets had accrued over $12 million worth of donations, according to analytics firm Elliptic, with one of the single largest donations worth $1.86 million. That generous contribution was donated by a group that had raised money through an auction of non-fungible tokens (NFTs). The auction, which took place weeks before Russia invaded Ukraine, was originally a fundraiser for covering the legal fees of WikiLeaks founder Julian Assange.

Eoin Treacy's view

The big argument against bitcoin is it has no real-world application. The use cases proposed by many of the most ardent bulls often rely on an unlikely set of conditions to align before crypto become essential. A foreign aggressor invading is one of the significant events bitcoin was created to cater to.

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