Bitcoin (BTC) Revolution Captures Globe: Ukraine’s New Party Vows To Rely On Cryptocurrency For Funds, Boom In Georgia & Brazil

Bitcoin (BTC) revolution continues to influence the world with even the small states and countries putting their faith in the crypto trading industry. Despite the dismal performance of BTC at the end of the last year, the cryptocurrency is slowly rising up and is expected to bounce back. And the decision of a newly formed party in Ukraine confirms this confidence of crypto traders. Even the country of Georgia known more for its wineries is encouraging coin mining whereas as of now Brazil has twice the number of crypto traders as stock investors. So, is crypto trading popularity taking over stock trading?

According to reports, the new party in Ukraine intends to weaken the control of the state over the economy and ensure that civil liberties are expanded. And to accomplish their motive the right-wing, liberal political force called, “Democratic Horde,” has decided to rely on contributions through cryptocurrency instead of accepting money from the oligarchs. The main goal of the party is to protect interests of everyone including common people, IT companies, and small as well as medium-sized businesses in Ukraine.

Several leading bloggers from Ukraine have confirmed this announcement which will be the first of its kind political party to raise funds exclusively in this way and achieve its political goals through Internet trolling. The bloggers who are a part of the “Orc-committee” of the party include Anton Shvets, Yuri Gudimenko, Alexandar Noinets, Igor Shtedrin, and Victor Tregubov.

In the wake of this development, the prime interest of the crypto community in the country is to legalize crypto trading in the country. Even though multiple bills have been discussed in the Rada, none of the regulations have been implemented which poses a big threat to the security of the crypto traders.

Georgia Shifts Its Focus To Coin Mining

Georgia is mostly known for its grapevines planted on the big, fertile Alazani Valley slopes and winemaking which has been a part of its tradition for centuries. However, this small country too has been caught by Bitcoin’s hold over the economy and has decided to shift its attention to coin mining. Abandoned, cinder block storehouses are now being turned into data centers for mining cryptocurrencies. Reports indicate that this erstwhile Soviet Republic state with a small population of just 4 million is gearing up to become another hub for crypto miners.

Brazilians too are not behind and as of now, there are twice cryptocurrency traders against stock traders. The number of Bitcoin investors in the Latin America’s largest economy is more than the total number of individuals registered on the Sao Paulo Stock Exchange which is a clear indication that lately traders are preferring crypto trading as against investment in stocks.

Comments (No)

Leave a Reply