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tbh, that example kind of underlines the lack of linkage between crypto assets' market value and real world use cases. A significant number of hitherto law-abiding, middle class and computer literate Russians who suddenly wanted to take all their money out of Russia and/or realised they needed a different way to continue to paying for services as their banks were hit with unexpected sanctions is pretty much the ideal real world use case for BTC.

But BTC actually fell in value sharply this year instead (and the spike in ruble/BTC trades was surprisingly small and short lived), because Bitcoin's peak valuation was more or less entirely unlinked to its theoretically increased usefulness for possessors of rubles.



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