Bitcoin shows its multifaceted role in global economic processes. In Russia, it's used to circumvent sanctions, while in the U.S., it causes mixed feelings among investors.
Russian Strategy with Bitcoin
Russian oil companies are using cryptocurrencies like Bitcoin, Ethereum, and the stablecoin Tether to continue oil trading under sanctions. Buyers in China and India pay in yuan or rupees, then this money is converted into cryptocurrency, eventually turning into Russian rubles. This approach helps maintain Russia's $192 billion oil business despite Western trade barriers.
U.S. Bitcoin ETF Losses
In the U.S., it's a different story. Bitcoin ETFs are losing money despite high cryptocurrency prices, around $85,000. Last week, funds lost $870 million, with $143 million on March 13 alone. Financial experts cite this as 'renewed selling pressure.'
Bitcoin: Two Sides of the Coin
These two stories highlight how Bitcoin operates in the world: solving practical problems in Russia and representing a risky investment in the U.S., showing its flexibility and complexity at the same time.
Bitcoin continues to develop and prove itself as both an international trade tool and a complex investment vehicle. Its role in the global economy is becoming increasingly significant, standing at the intersection of geopolitics and finance.
