Bitcoin (BTC) could fill the void left by the economies of BRICS regions Brazil, Russia, India, China, and South Africa, as they seek to boycott the US dollar as the common currency for international transactions.

BRICS leaders seek a US dollar replacement ahead of their next meeting in August.

BRICS Regions Must Find New Currency to Replace Dollar

Could the limitations of other national currencies leave Bitcoin as the only viable solution? 

Recently, Coinbase CEO Brian Armstrong argued that China’s adoption of the digital yuan and Hong Kong’s crypto ambitions threaten US supremacy in the digital currency space.

BRICS countries, particularly China, seek independence from the United States and its currency. 

Goldman Sachs economist Jim O’Neill coined the BRICS acronym in 2001 to describe regional economies that will dominate the global economy by 2050.

BRICS regions also belong to the G20 and were originally intended to represent investment opportunities. 

19 countries recently expressing interest in joining the alliance have

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Author: David Thomas

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