A Russian politician has indicated that rising geopolitical tensions could potentially boost Bitcoin’s value.

A Russian parliament member has suggested that the current geopolitical unrest might boost the demand for Bitcoin (BTC), possibly driving its price to a remarkable high. An analyst from Standard Chartered has retracted their prior forecast of Bitcoin reaching $120,000, asserting instead that it could actually rise to $200,000. Additionally, Russian MP Anatoly Aksakov mentioned that the escalating conflict between India and Pakistan could greatly benefit Bitcoin (BTC), potentially leading to a significant increase in its value. He believes that Bitcoin has shown itself to be an ideal means for transferring funds internationally during periods when the conventional banking system is disrupted. Recently, India carried out a number of attacks on Pakistan and parts of Kashmir controlled by Pakistan, leading to the fatalities of at least 31 individuals. This happened weeks after a group of Pakistanis was said to have killed 26 individuals. Indian officials claim that these assailants specifically targeted Hindu men. Various sources have indicated that what looked like a retaliatory strike could lead to a more intense conflict, as Pakistan is also looking for retribution. In the midst of this situation, Bitcoin’s price has significantly jumped to $103,000, reflecting a 6% increase on its weekly chart. Following a similar trend, Ethereum (ETH) has surpassed an important resistance level, reaching $3,350, while Solana (SOL) has reached $172 at the time of writing. A Russian MP has stated that now is the perfect moment to invest in Bitcoin. He considers Bitcoin to be a form of digital gold, offering a secure refuge amid times of political or economic instability. Aksakov elaborated that certain nations or areas might currently be utilizing the asset for arms and military transactions. Beyond its association with warfare, Bitcoin has also been cited in international trade agreements, with a recent report from Reuters suggesting that Iran and Venezuela are using it to bypass sanctions.