France, Germany, and Poland have recently decided to strengthen military assistance to Ukraine at the “Weimar Triangle” conference held in Berlin. French President Macron even revealed the possibility of deploying ground forces. If the scale of the war expands, how will Bitcoin perform?
According to reports from foreign media, during the “Weimar Triangle” conference held in Berlin, Germany, France, Germany, and Poland reached a consensus to increase military assistance to Ukraine in the ongoing “Russia-Ukraine War” as soon as possible, providing timely support to the Ukrainian army in need of weapons and ammunition resources.
It is worth noting that French President Macron, in an interview with “Le Parisien,” revealed that he does not rule out the possibility of deploying ground forces. Finnish Foreign Minister Elina Valtonen also stated on the 16th that the Finnish military could enter Ukraine in the future to assist in resisting Russian aggression.
The Weimar Triangle is a political cooperation platform established by Germany, France, and Poland in 1991, aiming to improve relations between Eastern European countries and the European Union and NATO. After the Russia-Ukraine War, the three countries resumed this mode of cooperation.
Multiple countries including the United States, the United Kingdom, and South Korea have initiated the evacuation of their citizens.
It is interesting to note that the United States recently began withdrawing embassy personnel from Russia, followed by NATO member countries such as Germany, the United Kingdom, South Korea, and Canada announcing their evacuation plans one after another.
This has led to speculation that NATO is deploying sanctions against Russia in advance. Evacuation actions usually occur during major conflicts or even pre-war preparations to protect local nationals.
The tense geopolitical situation often brings greater uncertainty to the global economy, and once a war breaks out, it will intensify concerns about inflation, soaring oil prices, and supply chain disruptions in the market. This will also lead to investors turning to safe-haven assets such as Bitcoin and other cryptocurrencies.
Looking back at the outbreak of the Russia-Ukraine War at the end of February 2022, Bitcoin experienced a short-term surge, approaching $44,000. However, if the war expands and spreads to the entire European continent, it will undoubtedly cause global economic turbulence and supply chain disruptions. It may also lead to a severe decline in global risk products, which is worth our continuous attention.
Further Reading:
The Financial Times warns of “Russia-Ukraine War intensifying inflation and credit risk”! MicroStrategy CEO: Bitcoin will become even more attractive as a result.
Chainalysis: Eastern Europe sees a surge in high-risk and illicit online activities due to the impact of the Russia-Ukraine War.
Situation Analysis: 7 Potential Impacts of the Russia-Ukraine War on Cryptocurrencies: Dangers, Hopes, and Countermeasures.
Russia-Ukraine War: Musk warns that Starlink is vulnerable to attacks! Reminds the need for further development; the Russian military has taken control of the Zaporizhzhia Nuclear Power Plant.