Bitcoin serves various purposes worldwide: Russia uses it for oil trade, while in the U.S., investors lose interest in Bitcoin funds despite high prices.
Russia Uses Bitcoin to Bypass Sanctions
Russian oil companies have found a way to continue selling oil by using Bitcoin and other cryptocurrencies for payments with China and India. This process involves selling oil and subsequently converting the incoming funds into cryptocurrency, which is then exchanged for rubles.
Decreased Interest in Bitcoin in the U.S.
In the U.S., there's a decrease in interest in Bitcoin funds, which lost $870 million over the past week, despite Bitcoin's high price around $85,000. Experts link this to 'renewed selling pressure.'
How Bitcoin Connects Different Stories
Despite different approaches, Bitcoin unites both situations: in Russia, it solves practical trading issues, while in the U.S., it's a risky investment asset. Discussions focus on potential changes in Bitcoin usage and its status as 'digital gold.'
These parallel developments highlight Bitcoin's dual nature in the global economy: as a practical tool for international trade and a complex investment asset. These cases emphasize its significance at the intersection of geopolitics and finance.
