Ukrainian military getting Bitcoin donation support: Russia vs Ukraine

Non government organizations are supporting the military of Ukraine financially by collecting support through bitcoin crowdfunding. 

In the present time tension between Russia and Ukraine is at tremendous level. On 24 February morning, the Russian military fired multiple missiles on Ukraine. However, Ukraine has better support globally, which includes America also. But in actual reality, it is not getting support in any way whether it is military-based support or financial support to increase the potential of its military power. Sympathy and statements by every continent is in favour of Ukraine but there are not enough for Ukraine to win against Russia.

Thanks to the multiple non government NGOs of Ukraine which started their initiative to support the government through global crowdfunding support by using the crypto and blockchain industry support. 

Earlier today, Elliptic, a blockchain analytics and compliance firm, confirmed that $400,000 worth of Bitcoins has been donated to the Kyiv-based non-government organization “Come Back Alive” which distributes supplies to soldiers. 

Under the contribution option, the NGOs listed a bitcoin address on their website. At the time of writing this article, Bitcoin addresses received a total of 29.44 Bitcoins. The current remaining balance on the address is 21.33 BTC, which is worth $ 827,972.29 at the current price of Bitcoin. 

The firm also noted that all the Ukrainian NGOs collected around $570,000 worth of Bitcoin last year. While received $200,000 worth of Bitcoin in the second half of 2021 only. 

“Come Back Alive” is currently working in favour to power up the Ukrainian armed forces through several platforms. On 23 February, This NGO announced the collection of  20.5 million hryvnias, worth Approx $685,000 in one day. Through its platform, the NGO raised $300,000 funds through Patreon. 

These things are showing that Ukraine is getting support not only from its citizens but also from the global countries because of the decentralized nature of Bitcoin. 

Read also: Ukrainian Govt Restricts e-Money Supply: Crypto may play a better role?