The De-dollarisation
The 16th BRICS Summit is starting today in the Russian city of Kazan; although it is a detailed affair, the main thing in it is to plan to replace the dollar with a new BRICS currency for mutual international trade.
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Russia is definitely in favor of this, and India, which is emerging as an economic power and is angry with Biden's anti-India attitude, is also in favor of this. Other countries can also join in this.
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Although Trump may become the US President in the new elections, he knows that de-dollarization is also one of the problems that he will inherit from Biden.
Time for Bitcoin
As we know de-dollarisation is on the way, what we need to know is, Bitcoin is on the way too, but for acceptance.
Argentina has the potential to join BRICS, and El Salvador is also interested. There is no question that El Salvador will promote Bitcoin as the BRICS' monetary system, which will surely get support from Argentina.
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Brazil and Russia, two of the founding BRICS members, are supportive of Bitcoin. Only India or China need to be persuaded, as they have the most clout in BRICS. Support for Bitcoin is around, a strong BTC approach for BRICS is all.
Originally published on Grill :
