Russia is firmly solidifying its position in the bitcoin mining industry, outpacing European countries and drawing the attention of BRICS.
Russia's Breakthrough in Bitcoin Mining
According to recent statements from Bitriver, the Russian bitcoin mining industry significantly surpasses its European counterparts. The largest Russian miner claims the country is already providing the second-highest computing power in the world, behind the United States. Bitriver expects substantial growth due to the new legislation signed by Vladimir Putin in August. The law aims to develop the bitcoin industry and strengthen economic ties with the BRICS and the CIS.
Bitcoin - the Gold of the Third Millennium
After Donald Trump's victory, who is favorable to bitcoin and intends to make peace with Russia, there is hope for equal trade terms. The BRICS is eager to move away from reliance on the US dollar, triggered by the freezing of Russian reserves. Bitcoin could become a neutral currency, able to put all countries on equal standings, being stateless and immune to freezing amid geopolitical tensions.
Global Shifts and Bitcoin's Potential
In the foreseeable future, the United States may have to accept that Russia, China, the UAE, and Saudi Arabia will stop investing in US Treasuries. The end of the petrodollar era will lead to a reduction in the US trade deficit. Bitcoin could become a key element of a new multipolar economy due to its unique property of absolute finiteness.
Russia is taking the lead in bitcoin mining, outstripping Europe and strengthening ties with BRICS. Bitcoin might become the foundation for a new global economy, free from dependence on national currencies.
