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Bitcoin Becomes More Valuable Than Russian Ruble?

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The Russia-Ukraine conflict has taken quite a toll on the global financial markets. It briefly caused the prices of digital assets to plunge. However, the crypto market has seen a big price recovery and has now caused a major crash for the Russian currency (Russian Ruble).

As per reports, the flagship crypto asset BTC is now more valuable than the Russian Ruble. Bitcoin is currently trading at $43,546 (at the time of writing) and has seen a 14.46% increase in its price in the last 24 hours.

Here is a graph by CoinMarketCap that shows the price movement of BTC over the last 24 hours.

btc-graph-01-03-2022

This price recovery has worked quite well for Bitcoin and has pushed it above the capitalization of the Thai Baht and Mexican Peso as well.

This significantly highlights and validates the value and importance of the crypto king, which is likely to attract an even larger audience than before.

If you are also interested in buying BTC, make sure you choose one of the lowest fees Bitcoin exchanges and make the investment.

If you are looking to leverage trade Bitcoin up to 100x, sign-up on Bybit today. You can also use this link to claim a bonus on your first deposit.

[bybit]

Effects of Russia-Ukraine on the Global Financial Market

The current ongoing conflict between Russia and Ukraine significantly impacted the global financial market as well as the crypto market. After seeing a sudden price drop, Bitcoin has now recovered and gained more value than the Russian Ruble.

The fiat currency of Russia has not seen such a massive price drop in the last 30 years.

Bitcoin, on the other hand, has now become one of the top 15 most valuable currencies, placing itself above countries such as:

  • Israel
  • Sweden
  • Saudi Arabia

The crypto king is visibly climbing the financial ladder as it has already surpassed the market capitalization of some of the largest companies and commodities in the world. It has also outperformed the entire market capitalization of all the palladium in the world.

Bitcoin is the ninth most valuable asset in the world, outperforming companies such as:

  • Berkshire Hathaway
  • JP Morgan Chase
  • Mastercard
  • Meta
  • Visa

Tesla, the popular electric car manufacturer, is ranked above Bitcoin, which also has a large portion of its funds invested in the flagship crypto asset. This further validates the value and significance of the most popular digital asset, even though its price fluctuates from time to time.

What to Know as a Crypto Investor?

Bitcoin is the most prominent crypto asset in the world and the ups and downs in its price greatly affect the value of other altcoins in the market as well. The drop in its price often makes the new investors a little hesitant and skeptical. However, long-time crypto investors and traders are quite familiar with the price fluctuations and seem to remain unfazed even if the price movement is drastic.

The details mentioned above can help you get a good idea that Bitcoin is a major digital asset to invest in and it is here to stay, as anticipated by many crypto analysts.

Therefore, if you are also interested in buying Bitcoin then you need to make sure that you take a look at the price movement before you buy and choose one of the best platforms from the Bitcoin exchanges list.

As a novice crypto investor, you can purchase the flagship digital asset by clicking on SwissBorg or Kraken (U.S. citizens).

[swissborg]

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