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19 September 2021

Ukraine’s Blueprint To Bitcoin Adoption

Ukraine’s Blueprint To Bitcoin Adoption


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Ukraine’s strategic path to Bitcoin adoption would likely include nuclear-powered mining, and holding Bitcoin as a state reserve asset.

Ukraine could plausibly be a natural fit for Bitcoin adoption, as the population is reportedly dissatisfied with their current monetary system, which emerged when the fiat hryvnia currency replaced karbovanets in a financial overhaul that happened 25 years ago this week.

If Ukraine were to expand its nuclear facilities it would not need to build additional electrical infrastructure to transport that power back to its residents, it could simply mine bitcoin with the energy produced instead.

The increased reliance on diverse sources of nuclear fuel, paired with a nation state Bitcoin mining strategy could alleviate Russia’s overbearing influence on the country.

One plausible path forward for Ukraine is to legalize bitcoin as legal tender as soon as possible and to use that and the fiat hryvnia together while mining Bitcoin with nuclear energy to build up a treasury with Bitcoin in reserve.

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