China and Russia Use Bitcoin for Energy Deals
China and Russia are now using Bitcoin for some energy transactions, according to VanEck. This shift away from the U.S. dollar is significant. Matthew Sigel, vaneck’s Head of Digital Assets Research, confirmed this move. He said, “Bitcoin is no longer just for speculation. It’s being used for real trade.”
Othre countries are following suit. Bolivia plans to import power using crypto. French utility EDF is exploring Bitcoin mining to use extra electricity.
These moves show a bigger trend. Digital assets are becoming practical for cross-border trade, especially in energy. For countries with limited access to traditional finance, Bitcoin offers a neutral payment option.
bitcoin could also act as a hedge during economic instability. Sigel noted that U.S. Federal Reserve’s dovish signals have historically boosted Bitcoin prices. This attracts international players looking for alternative reserves and settlement tools.
These developments highlight Bitcoin’s growing role in global commerce. It’s becoming more than just a speculative asset.
