Putin’s Landslide Win in Russia Aligns with Bitcoin Rally Above $68,000, Banking Shift Predicted

• Vladimir Putin won by nearly 88 percent of the vote for another six-year term, thus becoming the longest-serving leader in Russia’s post-Soviet history.
• Putin has vowed to further strengthen Russia’s economic status through protecting its borders from the growing influence of NATO in Eastern Europe.

Russian President, Vladimir Putin, has cemented his power through a landslide election victory, despite the lack of support and approval from Western leaders. According to Russia’s Central Election Commission, Putin garnered nearly 88 percent of the vote count, thus giving the 71-year-old former KGB lieutenant colonel a six-year fresh term. 

“We have many tasks ahead. But when we are consolidated – no matter who wants to intimidate us, suppress us – nobody has ever succeeded in history, they have not succeeded now, and they will not succeed ever in the future,” Putin said in the victory speech.

What Putin’s Win Means for the Global Economic Outlook

President Putin has now become Russia’s longest-serving leader in post-Soviet history, which has sparked different reactions from global leaders. The United States, Germany, the United Kingdom, and other countries have noted that Russia’s elections were not free and fair. Moreover, most of Putin’s political opponents are either dead, in exile, or imprisoned.

Nevertheless, President Putin has sent a message that the country is largely consolidated and ready to thrive economically without the US dollar. The notable rise of the BRICS movement has significantly accelerated the ongoing global de-dollarization.

According to President Putin, western democracy is a disaster and its banking system is on the brink of historical collapse. Meanwhile, the United States elections are getting closer with former President Donald Trump likely to face Democratic candidate President Biden.

“Is it democratic to use administrative resources to attack one of the candidates for the presidency of the United States, using the judiciary among other things?” Putin noted.

Bitcoin’s Rise is Inevitable

The ongoing confrontations between Russia and the Western forces in Ukraine has significantly advertised Bitcoin as a safe haven for all investors. With the US dollar being used as a tool to propagate wars in Ukraine and the Middle East, experts have predicted an inevitable rise of Bitcoin and other democratized blockchain-based assets. 

As Crypto News Flash previously reported, President Putin is confident about the inevitable fall of the Western banking system after the  SWIFT messaging protocol turned out to be a political tool that is controlled by a few individuals. 

Remarkably, Bitcoin price recently reached a new all-time high (ATH) against all global currencies, an indication of rising demand. The approval of spot Bitcoin ETFs in the United States earlier this year has raked in billions of dollars from top-tier Wall Street financial firms. Consequently, it is safe to assume that Bitcoin’s bullish outlook is in the early stages and more gains will be registered in the coming quarters.

Worth noting that Bitcoin price has reached a new ATH, with around five weeks to the fourth halving event that historically triggers mainstream proliferation of traders. Meanwhile, Bitcoin price is currently trapped in a short-term correction that will yield a fresh wave of bull run. 

According to the latest market data, Bitcoin price dropped around 5.5 percent last week to trade around $67,975 on Monday during the early London session.

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