Russia will accept Bitcoin and this goes to Qatar

Bitcoin can be integrated as a tool against the freezing of funds for Russia in international markets. At least, that’s what Pavel Zavalny, Chairman of the Eurasian Energy Commission, said on Thursday, March 24, when he admitted that there was an option to accept cryptocurrency for the sale of energy resources, such as oil and gas.

During a press conference this morning, Zavalny mentioned Bitcoin (BTC) as a potential trading currency, in the context of US and European sanctions against it.

According to various Twitter translations, Zavalny did not say that they directly plan to include bitcoin in their trading currencies, but that they may consider it in addition to the currencies of “friendly” countries, such as the Chinese yuan or the Turkish lira, for example.

Available reading on the Twitter profile of Russians With Attitude podcast states that:

Russia can sell energy resources to hostile countries for rubles / gold, while processing payments from friendly countries with their national currencies (the yuan, lira, dinar) and, if possible, bitcoin, says the head of the State Duma Energy Committee Pavel Zavalny.

Meanwhile, Bitcoin Magazine quoted other words attributed to a member of the Russian government: “There can be a variety of coins [nel commercio di risorse energetiche]. If they want bitcoins, we will trade them for bitcoins.”

Bitcoin reacts to a potential milestone in international markets

If Russia begins receiving BTC as payment for its energy assets, it will create a new precedent for cryptocurrencies in the world: a medium of exchange on international markets.

At the moment, this news seems to push the price of the cryptocurrency a bit more. Currently, the price of BTC on exchanges is around $44,000, according to CoinMarketCap and Bitcoin Profit reviews.

While expectations were mostly bullish, the price of the cryptocurrency has not reached these price levels since early March. Will this be the motivation needed to break the $45,000 barrier that has become so elusive?

Bitcoin will go to the 2022 World Cup despite being banned in Qatar

FIFA (International Football Association) has announced the integration of Bitcoin and other cryptocurrency exchange Crypto.com as one of the sponsors for the upcoming World Cup, which will take place in Qatar later this year.

The sports cartel said the exchange will be the only cryptocurrency company that will be able to promote its brand on and off the competition pitch, alongside the likes of Coca Cola, Adidas, Hyundai and Visa. According to the press release, the platform will “benefit from significant exposure” during the event.

The FIFA World Cup is the second most watched sporting competition globally, after only the Olympic Games. The Federation estimates that the final of the 2018 edition reached 517 million direct viewers.

Cryptocurrency trading is prohibited in Qatar

Interestingly, in the host country of this year’s 2022 World Cup, cryptocurrency trading is prohibited. In early 2020, Qatar completely banned the use of bitcoin or any other cryptocurrency in all types of payments, including peer-to-peer exchanges.

At the time, the Qatari financial authority said its goal was to freeze “anything of value that serves as an alternative to currency, that can be exchanged or transferred digitally, and that can be used for payment or credit investment.”

This may explain Crypto.com’s marketing strategy in the context of the FIFA World Cup. According to the official statement, the company will focus on offering promotions to new and existing users to win match tickets and branded merchandise. There is no mention of direct promotion of bitcoin and other cryptocurrency trading products and services.

However, the platform, which debuted in Singapore in 2016, hopes to reach a global audience during the event, according to co-founder and CEO Chris Marsalek. Over the past year, the company has focused on securing sponsorship partnerships in the entertainment and sports sectors.

The 2022 World Cup kicks off in Qatar on November 21 and will run until December 18 this year.

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