VanEck has revealed that China and Russia are reportedly settling some energy transactions using Bitcoin and other digital assets, signaling a shift away from the U.S. dollar amid Donald Trump’s ongoing trade war.
VanEck’s Matthew Sigel called this a sign that Bitcoin is evolving into a functional monetary tool, especially for countries seeking to bypass U.S.-led financial systems.
Other countries are also exploring crypto alternatives: Bolivia plans to import electricity using crypto, and France’s EDF is considering mining Bitcoin with excess power. Sigel emphasized that dovish Fed policy and a weakening U.S. Dollar Index (down 7% this year) could further support Bitcoin’s rise.
Bitwise CIO Matt Hougan agreed, stating the Trump administration’s preference for a weaker dollar may lead to a more fractured global reserve system where Bitcoin and gold play larger roles.
Analysts also noted Trump’s aggressive policies may ironically be accelerating the global de-dollarization trend.
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