Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/russia-plans-bitcoin-use-in-global-trade" data-wpel-link="internal" rel="noopener noreferrer nofollow">Russia Plans Bitcoin Use in Global Trade</a><br></p>
<p style="text-align: justify">Recent reports highlight that Russian officials are evaluating the potential of <a href="https://en.bitcoinhaber.net/insights-on-bitcoins-market-dynamics-bollingers-prediction-and-grayscales-etf-impact" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> for international transactions outside the US dollar framework. This initiative aims to safeguard the nation’s economy against ongoing sanctions.</p>
<h2 id="how-is-bitcoin-set-to-facilitate-trade">How is Bitcoin Set to Facilitate Trade?</h2>
<p style="text-align: justify">Matthew Sigel, the head of digital assets at VanEck, shared insights that senior lawmakers are endorsing the sale of <a href="https://en.bitcoinhaber.net/bitcoin-etf-frenzy-a-catalyst-for-soaring-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> from Russian miners to foreign buyers. This strategy enables the use of Bitcoin for import payments, avoiding sanctions. Similar tactics have previously been adopted by Iran, which used mined BTC for its trade operations.</p>
<h2 id="what-collaborations-are-emerging-within-brics">What Collaborations are Emerging within BRICS?</h2>
<p style="text-align: justify">At the recent BRICS Business Forum, a partnership was announced between the mining company BitRiver and the Russian Direct Investment Fund (RDIF). This collaboration aims to boost Russia’s presence in the artificial intelligence sector alongside expanding its global computing power through specialized data centers, including plans for additional centers in other BRICS nations.</p>
<p style="text-align: justify">Igor Runets, CEO of BitRiver, emphasized that mining serves as the foundation for a digital economy, and achieving parity with the US in this sector would position Russia as a key player. The goal is to foster economic growth and improve liquidity for trade and AI development.</p>
<ul style="text-align: justify">
 <li>Russian authorities are eyeing Bitcoin to bypass US sanctions.</li>
 <li>BitRiver’s partnership seeks to elevate technological advancements within BRICS.</li>
 <li>Russia’s strategy focuses on fortifying its digital economy through cryptocurrency initiatives.</li>
</ul>
<p style="text-align: justify">Russia’s exploration into Bitcoin could signify significant shifts in global trade practices, potentially reshaping international economic relations and enhancing the nation’s trading autonomy.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/russia-plans-bitcoin-use-in-global-trade" data-wpel-link="internal" rel="noopener noreferrer nofollow">Russia Plans Bitcoin Use in Global Trade</a></h5>

Russia Plans Bitcoin Use in Global Trade

Table of Contents

BH NEWS

Other articles published on Oct 24, 2024

Kraken to Launch Ink Blockchain for DeFi in 2025

Simplifying On-Chain Data: The Key to Web3 Mass Adoption?

Solana Meme Coin Musk To Mars To Surge 16000% After Listing

Kembali Merah, Apakah Bitcoin Akan Mengalami Nasib yang Sama Seperti Tahun 2021?

Base8 Launches User-Friendly, Bitcoin Neobank and Opens Crowdfunding Campaign on Republic

Bitwise Strategist Sees Bitcoin at $92K If Trump Wins Election

Join our free newsletter for daily crypto updates!