Related: Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi marketsChina, Russia reportedly using Bitcoin for settlementSome nations are already taking steps toward using crypto assets for settlement in global trade.“China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets,” wrote Matthew Sigel, head of digital assets research at VanEck, in an April 8 note.“These are early signs that Bitcoin is evolving from a speculative asset into a functional monetary tool.”Sigel noted other examples, including Bolivia’s plans to import electricity using crypto and French utility firm EDF’s exploration of using surplus power to mine Bitcoin.“These developments reflect a growing interest in neutral settlement rails, especially among economies looking to bypass the U.S.dollar,” he said.
While the tariff uncertainty will continue limiting risk appetite during the negotiations, positive developments could bring renewed investment into crypto markets.“We’ll start to see the rotation toward the crypto markets in the coming period where there’s more calm and peace in the markets where investors start to buy the dip and understand that some things have been undervalued,” Michaël van de Poppe, founder of MN Consultancy, told Cointelegraph.
Source: Hunter HorsleyDespite the growing optimism, gold will likely remain the dominant asset, especially in the near term, Aurelie Barthere, principal research analyst at Nansen crypto intelligence platform told Cointelegraph, adding:“Bitcoin is promising, but it’s still quite volatile, it could get there gradually.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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