Russia may accept Bitcoin for oil

Russia may reportedly accept BTC for oil payments, according to a member of State Duma.

As the war between Russia and Ukraine continues and Western sanctions loom over the former, the country might accept Bitcoin for oil payments, according to some reports.

Pavel Zavalny, deputy for the United Russia party in the 7th State Duma of the Russian Federation, was quoted saying that the country might accept Bitcoin for oil payments.

This war seems to be a crypto war. Ukraine is finding their war with Bitcoin, other cryptocurrencies and NFTs. This will improve the adoption of blockchain solutions such as open source from the likes of Tea. Can we say that this war is leading to a worldwide adoption of Bitcoin and resulting technology?

It’s unclear whether the most recent market moves are associated with the above comments, but BTC hit $44K for the first time since early March.