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๐ŸŽ“ Ukrainian refugee arrives in Poland with $2,000 worth of Bitcoin

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A Ukrainian refugee, alias Fadi, arrived in Poland with $2,000 worth of bitcoins stored on a USB drive.

Speaking to CNBC, Fadi said: “I couldn’t withdraw the cash at all, because the lines at the ATMs were so long and I couldn’t wait that long.”

According to Fadi’s statements, this money represents approximately 40% of his life savings. I can just write my seed phrase on a piece of paper and carry it with me.โ€

Fadi explained that he had a P2P exchange with a friend, exchanging $600 of his bitcoin savings for the Polish national currency zล‚oty. Fadi indicated that he used this money to pay for transportation to Poland and “shelters and some food.”

Ukraine and cryptocurrency

Fadi revealed that he was unable to transfer his traditional money to Poland, which is why cryptocurrencies are so important to his financial well-being.

In addition to his Bitcoin holdings, Fadi owns several Monero cryptocurrencies on Binance.

Fadi’s story is just a small part of the stories of Ukraine’s growing reliance on cryptocurrencies in the wake of the Russian invasion last month.

On February 26, 2022, just two days after the start of the Russian invasion of Ukraine, the Ukrainian government announced that it would accept Bitcoin and Ethereum donations. According to blockchain records, these addresses received more than $15 million and $24 million worth of Bitcoin and Ethereum, respectively.

The government also received Polkadots and Dogecoin donations, and just a week after the war began, Ukraine received more than $50 million in cryptocurrency donations.

Earlier this month, Alex Bornyakov, Deputy Minister of the Ministry of Digital Transformation, revealed details of the Ukrainian government’s expenses for the crypto donations it received.

Bornakov thanked everyone who contributed to the “donation to the Cryptocurrency Fund of Ukraine.”

According to Bornakov’s tweet, the donations were spent on more than 5,000 bulletproof vests, 400,000 packed lunches, as well as 500 helmets and other important resources for the army.

โ€œEvery helmet and jacket purchased with cryptocurrency donations currently saves the lives of soldiers,โ€ Bornyakov added.

Crypto assets have proven extremely useful in facilitating funding flows to the Ukrainian Armed Forces.

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