Bitcoin shows its dual nature worldwide: Russia bypasses sanctions selling oil, while US investors withdraw funds despite high prices.
How Russia Uses Bitcoin to Sell Oil
Russian oil companies found a clever way to sell oil to China and India by using cryptocurrencies like Bitcoin, Ethereum, and Tether. Buyers pay in local currency, which is converted to cryptocurrency and finally Russian rubles. This helps Russia's economy amid sanctions, and other countries may follow suit.
US Bitcoin Fund Losses Amid High Prices
In the US, Bitcoin ETFs lost $870 million over a week despite high prices around $85,000. Investors, wary of economic instability, are withdrawing funds. Ethereum funds are seeing similar losses, creating a paradox where prices remain high while funds lose capital.
Connecting Different Bitcoin Use Cases
Bitcoin connects two seemingly opposite narratives: solving practical trade problems in Russia while remaining a risky investment in the US. These examples highlight Bitcoin's dual nature as both a business tool and a volatile investment asset.
Current developments show Bitcoin becoming a significant player at the intersection of geopolitics and finance. Its use in international trade and investment adaptation continues to evolve according to global trends.
