The price of Bitcoin plunged shortly after Russian President Vladimir Putin announced a “special military operation” against Ukraine in what appears to be a full-scale invasion of the country.
In a televised speech, President Putin warned the United States and NATO against getting involved, saying that anyone who “tries to interfere with us, or even more so, to create threats for our country and our people, must know that Russia’s response will be immediate and will lead you to such consequences as you have never before experienced in your history.”
BTC’s price dropped from around $39,000 over the last 24-hour period to a $34,000 low before moving up to $35,500, where it’s currently trading at the time of writing. European equities markets opened down by around 3.5%, with Russia’s MOEX index plunging 45% on the announcement.
Russia’s military action has been met with condemnation from world leaders, with U.S. President Joe Biden saying the war would bring “catastrophic loss of life” and U.K. Prime Minister Boris Johnson saying he was “appalled” by the “unprovoked attack.”
The U.S. and NATO are now expected to hit Russia with a broad sanction package, which could include disconnecting the country from the SWIFT network.
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