The possibility of Bitcoin becoming attractive as a store of value was explored by the Crypto Venture Advisor at Presight Capital, Patrick Hansen, who pointed out via Twitter that the war in Ukraine could accelerate the trend of counties allocating less USD to their foreign currency reserves.
Mr. Hansen was responding to another Tweet that elaborated on the shift by countries worldwide away from the US dollar as a reserve currency.
According to a report by Bloomberg, last year, Israel’s Central Bank added the Chinese Yuan/Renminbi alongside other three currencies to its reserves to the tune of $200 billion.