• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin in Russia: Oil Trade Tool, in the US: Investment Asset

user avatar

by Giorgi Kostiuk

8 hours ago


Recent news shows Bitcoin's dual role, supporting Russian oil trade and seeing investment shedding in the US.

Bitcoin in Russian Oil Trade

Russian oil companies use Bitcoin, Ethereum, and stablecoins like Tether to circumvent sanctions while selling oil to China and India. The process is straightforward: buyers pay in their local currencies, which are converted into cryptocurrency, then into Russian rubles. This method sustains the Russian oil industry amid Western sanctions and might set an example for other countries.

Losses in US Bitcoin Investment Funds

In the United States, Bitcoin ETFs are experiencing financial outflows, losing $870 million over the past week, despite Bitcoin's high price at around $85,000. Investors are concerned about global economic conditions, prompting a withdrawal of funds.

Connecting the Two Bitcoin Stories

These stories illustrate how Bitcoin can serve as both a tool for real-world trade and a risky financial asset. In Russia, it addresses practical challenges by facilitating international transactions. In the US, it remains a volatile investment tool that prompts investors to reassess its long-term value.

Bitcoin's developments underscore its dual role in international trade and investments. Its future continues to be shaped by global dynamics.

0

Share

Other news

SUI and SHIB Prices: Current Trends and BlockDAG's Opportunity

Explore current SUI and SHIB price trends and BlockDAG's Ambassador Program.

user avatarGiorgi Kostiuk

a few seconds ago

Celestia's Price Up, Arbitrum Under Threat, BlockDAG Surprises

Exploring Celestia's growth, Arbitrum's vulnerabilities, and BlockDAG's innovative plans in the crypto space.

user avatarGiorgi Kostiuk

a few seconds ago

Crypto Markets: Can Dogecoin Hold $0.17 and Will Pi Network Fall Further?

Analysis of current crypto market events: Dogecoin's $0.17 support and Pi Network's sharp decline.

user avatarGiorgi Kostiuk

a minute ago

Cryptocurrency Trends: BlockDAG Leads Among Promising Assets

Exploring current trends in cryptocurrency: BlockDAG gains attention amidst Dogecoin, PEPE, and Shiba Inu growth.

user avatarGiorgi Kostiuk

6 minutes ago

Updated Tax Obligations for Crypto Investors in Germany

Germany revises tax rules for cryptocurrencies, emphasizing investors' obligations.

user avatarGiorgi Kostiuk

7 minutes ago

DOGE and SHIB Tumble: Meme Cryptos Face Challenges

Dogecoin and Shiba Inu rank among the worst performers in crypto. Meme coins are dropping in market cap today.

user avatarGiorgi Kostiuk

7 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.