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According to a VanEck report, China and Russia have begun settling some trade transactions using Bitcoin. VanEck’s Head of Digital Assets Research, Matthew Sigel, reports that the two BRICS nations have already begun settling some energy transactions in Bitcoin and other digital assets. This comes as the Trump administration’s tariff policy has reignited global trade tensions. China and Russia have already worked on trade deals with one another without the US dollar. Now however, with economic concerns spreading worldwide, the two countries have attempted to ditch fiat altogether. Sigel also shared that Bolivia has announced plans to import electricity using crypto. French energy utility EDF is also exploring whether it can mine Bitcoin with surplus electricity currently exported to Germany. “These are early signs that Bitcoin is evolving from a speculative asset into a functional monetary tool—particularly in economies looking to bypass the dollar and reduce exposure ...

In a new and interesting development, China is getting rid of a record amount of US Treasury and agency bonds. The nation’s decision to move away from US bonds stems from the ongoing trade tensions that are pivotal in straining the US-China trade relationship.  Also Read: BRICS: China’s Gold Buying Spree to End the US Dollar? China-US Trade Tensions: Details Source: Finbold The trade tensions between China and the US seem to have adopted a stricter stance. China has recently conducted $260 billion worth of trade with Russia without using the USD. This indicates a potentially strained outlook for China towards the US, which is playing an elemental role in helping China offload the USD.  The data from the US Treasury reveals that China has sold nearly $53.3 billion of treasuries and agency bonds in Q1, indicating the nation’s dubious stance towards the US dollar. Belgium, often dubbed a custodian of Chinese holdings, has also shed nearly $22 billion...

Gold prices climbed above $2,100 on Monday before retracing in price a few hours later. The precious metal has risen in price for two consecutive months making investors reap handsome rewards. The yellow metal gained 19% in 60 days and outperformed the stocks, forex currencies, oil, cryptocurrency markets, and other commodities. The prices of GOLD are now hovering around the $2,070 mark but analysts predict more upside swings. Also Read: US Dollar First Casualty When Trade Between BRICS Countries Rise Source: Investing.com Gold Prices Will Not Stop at $2,100: Here’s Why Source: Freepik.com The anticipated drawback in interest rate hikes remains to be the key driver for GOLD prices to shoot up. Lower interest rates weaken the US dollar and a softer USD makes GOLD cheaper for financial establishments. Institutional investors are exiting from the currency markets and investing billions in GOLD as a shield against the financial turmoil. Also Read: Gold Price Predictio...

The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but could the British pound's weakness be a positive for Bitcoin. On Sept. 26, the British pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors' doubts about the government's capacity to withstand the growing costs of living across the region. The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but the British pound's weakness could be a net positive for Bitcoin. The GBP, or British pound, is the world's oldest currency still in use and it has been in continuous use since its inception. Fiat currencies are a 52-year old experiment The British pound, as we currently know, started its journey in 1971 after its convertibility with Gold or theequivalent was effectively termi...

A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden. Macroeconomist Lyn Alden has cast doubt on a proposal that would see five countries work together to develop a common BRICS currency — arguing it will likely struggle to get off the ground and fail to dethrone the United States dollar. In an interview with Cointelegraph just days before the BRICS annual summit in South Africa, Alden explained that it will be “very hard” for BRICS members — Brazil, Russia, India, China and South Africa — to form a gold-backed currency for widespread use. Russian President Vladimir Putin first announced that BRICS proposal to create an international reserve currency at the BRICS summit in 2022 to rival the U.S. dollar as the global reserve standard. This proposal was later confirmed to come in the form of a gold-backed currency. However, Alden argued the model is flawed. ...