news 
Title: VanEck Confirms China and Russia Are Settling Energy Transactions in Bitcoin
Introduction
In a recent announcement, VanEck has confirmed that both China and Russia have started settling some of their energy transactions in Bitcoin. This development has sent shockwaves throughout the cryptocurrency market, as it suggests that these countries are actively seeking alternative methods to circumvent the US dollar in international trade.
China and Russia’s Energy Transactions Settled in Bitcoin
According to VanEck’s Head of Digital Assets Research, Matthew Sigel, China and Russia have started using Bitcoin for some energy transactions. This revelation is significant as it indicates that both countries are taking steps to de-dollarize their economies, which could have far-reaching consequences for the global economy.
China’s Energy Deals with Russia
China has been actively seeking alternative trade partners since the onset of the US-China trade war. The country has already established close ties with Russia in recent years, and this announcement suggests that they may be using Bitcoin as a medium of exchange to settle these deals. This move could have significant implications for the global energy market, potentially paving the way for a decentralized system of international transactions.
Ripple Effects
This news comes at a time when cryptocurrency is gaining increased attention as an alternative to traditional fiat currencies. With the Trump administration’s trade policies aimed at de-dollarizing countries, it appears that China and Russia are taking matters into their own hands by adopting Bitcoin as a means of settling energy transactions.
In conclusion
Source: https://cryptopotato.com/vaneck-confirms-china-and-russia-are-settling-energy-transactions-in-bitcoin/
