China and Russia Begin Settling Trade Transactions Using Bitcoin
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 ...