The geopolitical landscape has undergone a massive transition for much of the last year. Simultaneously, digital assets have seemingly progressed into massive importance amid greater financial evolution. Therefore, we observe the BRICS economic alliance and how Bitcoin could help it eventually ditch the US dollar.
The bloc has not been shy about its goal of eventually usurping Western dominance through the greenback. Subsequently, the alliance has spoken clearly about establishing a new world order. With Brazil championing a digital revolution to eliminate economic inequality, Bitcoin could have a massive place.
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BRICS and Bitcoin Trouble for the US Dollar?
Over the last few days, the BRICS alliance has spoken of the current world order. Specifically, it has called for widespread global change. Russia’s President Vladimir Putin noted the alliance’s desire to end Western dominance internationally. Coinciding with previous BRICS initiatives, it appears that the currency is the price target of this revolution.
Subsequently, the BRICS alliance goals could be aided by Bitcoin, as it seeks to both end US dollar dominance and lessen global inequality. Specifically, these digital assets present a key value for developing countries. Indeed, they can utilize these currencies to better compete in greater international trade.
Also Read: BRICS Working on a ‘Fair World Order’ to End US Dollar Dominance
Although it may not be Bitcoin specifically, the BRICS bloc has shown a penchant for digitized finance. Throughout this year, China has had immense success with its digital yuan. Moreover, Russia has consistently been developing a Central Bank digital currency project. All of which point to the bloc’s focus being on a digital asset in the future.
Moreover, that digital asset could end up being the long-rumored BRICS currency. Poised to debut in 2024, the currency has been in development for more than a year. Making such a currency a digital asset would allow all of the benefits of something like Bitcoin. However, it would also have the added value of being connected directly to BRICS and its trade dealings.