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Putin Praises Bitcoin: Russia's President Sees Unstoppable Crypto Future
BRICS Considers Bitcoin for Trade: Russia's Putin Praises BTC, Encourages Global Crypto Usage, Promotes De-Dollarization.
Putin Praises Bitcoin: Russia's President Sees Unstoppable Crypto Future
What does Russian President Vladimir Putin have to say about Bitcoin? The answer is as clear as it is provocative: “Who can ban Bitcoin?” he asked in an energetic interview on Russian television and immediately gave the answer himself: “Nobody.” In an exciting turn of events for the crypto world, Putin praises the rapid development of Bitcoin and Co. and sees them as the backbone of future financial strategies. The BRICS countries in particular appear to be continuing to roll out the red carpet for cryptocurrencies, as further preparations will be made at their planned summit in 2024. This message is likely to spread widely and could undermine the power of the US dollar.
Putin's comments are hardly surprising. While the BRICS economic association is busy working on its own currency, Bitcoin appears to be gaining more and more ground as an international payment standard. The introduction of a law in Russia that recognizes digital currencies such as Bitcoin as property lays the legal foundation for their use in international trade transactions. No wonder, then, that Brazil is at the same time allegedly involved in the development of a Bitcoin treasure, to the astonishment of the analyst world.
Putin's vision: Bitcoin as a geopolitical power
Russia is moving strategically towards the crypto future. By using Bitcoin in the wake of sanctions during the Ukraine conflict, Russia has proven that digital currencies can become essential tools of the international economy. And now there is serious talk about digitizing the Russian ruble on the XRPL Ledger platform! If the outlook is not deceptive, digitalization could actually drive the de-dollarization that BRICS is aiming for and permanently transform international trade structures.
So, who is next in line for crypto? In any case, China and Brazil are already there and are giving the crypto scene an additional boost. A law under review in Brazil could soon give Bitcoin an official home as a reserve in the national treasury. These developments in the BRICS countries make it clear that the playing field for Bitcoin is being leveled up and will keep readers on the edge of their seats until the final guidelines are published in 2024. A rogue who thinks of a falling dollar.