Much of crypto’s attraction lies in its lack of traceability. So a Gold ETF may not represent a good way to shuffle money out of country, unnoticed.

One can easily find any number of crypto wallets with linked credit cards, or convert back into fiat in another jurisdiction.

Im no bloated Russian kleptocrat, but am slowly shuffling funds into stablecoins in high yield L2 DeFi strategies. Despite the comparisons to the overcolateralisation causing the 2007/8 GFC there is huge promise in DeFi-Land. with low risk holdings in stablecoins and a linked Mastercard it might be possible to drink Aperol Spritz in the Dolomites without involving the ATO!

DeFi also offers the very real possibility of 15-20% APY on USD coins, which in the current climate is pretty attractive from a risk:reward POV

I am able to accept the risk that the whole thing could blow up if Tether implodes or there is a sudden rush for the exits and it is impossible to unwind. This stuff has only been around for a year or two so is untested and very high risk !

I apologise for being a bit less active as a result of spending FAR too much time trying to work out how all the above holds together. I hope to put up a couple more posts over the weekend.

best of luck with the current market whiplash!

My knowledge of Cryptocurrency is very limited. I'd like some input from those more knowledgeable.

Could the Russian/Ukraine war be the making of cryptocurrency?

In the past, the wealthy elite would flee with physical gold and art treasures. Now its far easier to put it in crypto.

The West have sanctioned a few Russian Oligarchs mainly limiting access to their bank accounts in the west. Crypto ensures they can squirrel their funds away with anonymity and portability. Doesn't this devalue gold and indeed the $US as a wealth safe haven?

I'd love the read your thoughts. Crypto has already risen 10% in two days.