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Payne Capital Management President Ryan Payne, University of Akron Endowment Investment Committee Chair Dennis Gartman and Comerica Wealth Management CIO John Lynch provides insight into how the Russia-Ukraine conflict is impacting the markets.
The advance in Bitcoin and other major cryptocurrencies paused Wednesday morning as Russia escalated its efforts to take control of Ukraine.
Bitcoin had traded as high as $44,000 on Tuesday night, highlighting a gain of 17% since Sunday night, according to CoinDesk.
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Crytos bucked the trend from equities on Tuesday when the major US markets fell more than 1.5% each.
Heading into Wednesday, Bitcoin had been up five of the past six days.
Bitcoin remains down more than 5% year-to-date.
A cryptocurrency-tracking firm says Ukraine has received $33.8 million in digital currency such as bitcoin and Ethereum as they continue to fight off a Russian invasion.
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The sum from 30,000 unique donations comes after Ukraine issued a plea for contributions on Twitter last week, the Associated Press reported.
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Chief Scientist Tom Robinson of Elliptic said most donations to date have been in bitcoin and ether. Some people are sending non-fungible tokens, or NFTs, to the Ukrainian government’s Ethereum account.
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