Bitcoin Price Boom: Biden’s Executive Order Leak And Russia Are Pumping The Crypto Price

The crypto market looks healthy today and the prices have exploded. The most important coins are trading in the green. You may wonder how this is possible following so many corrections and increased volatility.

Well, there are two important factors that triggered the price rise.

It’s been just revealed that Russia suspends the sale of foreign currency.

“Russia’s central bank will no longer allow its citizens to buy up foreign currency in a bid to maintain reserves within the country,” according to official notes.

These measures are set to last until at least Sept. 9. It’s also important to add the fact that customers will be able to withdraw a maximum of $10,000 foreign currency from their accounts, all other funds will now be paid in rubles.

This is another trigger that led to the price increase for Bitcoin and crypto.

BREAKING: Treasury leaks Sec. Yellen’s press release on Biden’s #Bitcoin Executive Order. pic.twitter.com/znr28d1Dyu

— Dennis Porter (@Dennis_Porter_) March 9, 2022

Check out more tweets from this press release leak below:

3/3 press release leak pic.twitter.com/3WlPMMdQjk

— Dennis Porter (@Dennis_Porter_) March 9, 2022

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $41,708.

The other day, we were revealing that the popularity of Bitcoin is on the rise. Since the massive global crisis triggered by the novel coronavirus started back in 2020, Bitcoin has been showing its strength and resilience.

Now, we’re seeing another global crisis and BTC continues to remain strong. Anthony Pompliano just addressed the nature of Bitcoin as money. Check out his important tweet below.

“Millions will come to the conclusion that stateless money is superior to paper money controlled by governments – their own or others.

Bitcoin is stateless money, neutral by design.” – @dan_pantera

— Pomp 🌪 (@APompliano) March 8, 2022

Lots of crypto fans support this idea, but there are also people who are not that sure that things will go flawless with crypto.