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Title: BRICS News: More African Countries to Join in 2025—What’s Next for Crypto Adoption?
As the world continues to grapple with the ongoing complexities and implications of cryptocurrency, a significant development has emerged on the horizon. Reports have surfaced indicating that more African countries are expected to join the BRICS alliance by 2025. The news has sent shockwaves across the global financial landscape, as the potential implications for crypto adoption remain murky.
The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, has expanded its influence globally, boasting nine full members and numerous partner nations. While the initial intention was to establish a platform for mutual economic cooperation, it appears that the scope of activities is broadening to encompass other pressing global issues, including but not limited to cryptocurrency.
The African continent, in particular, seems poised to play a pivotal role in this development. Ethiopian former Speaker of the House Agegnehu Teshager has gone on record stating that every single African nation expressed interest in joining the BRICS alliance. While it is unrealistic to assume all 54 African countries will be welcomed into the fold, there are indications that a new partnership group might be established.
The allure of the BRICS lies not only in its de-dollarization efforts but also in the promise of economic growth and empowerment. As more African nations express interest in joining the alliance, it is crucial to assess the potential implications for crypto adoption.
One prominent economist, Jeremy Siegel, has gone on record stating that countries may eventually abandon the US dollar for Bitcoin (BTC). This notion gained traction following Donald Trump’s endorsement of Bitcoin, which could potentially supercharge this movement. Furthermore, Siegel emphasized that Bitcoin might more effectively challenge the US dollar’s dominance than gold or other BRICS currencies.
In the face of such significant developments, it remains to be seen how the crypto market will evolve in the coming years. One thing is certain – the world will be watching closely as these events unfold.
Source:
Source: www.crypto-news-flash.com
