crypto.news 2025-04-09 18:25:17

China and Russia settle energy trades in Bitcoin, VanEck confirms

China and Russia are now reportedly settling select energy transactions using Bitcoin, according to a recent report by investment firm VanEck. The move marks a shift away from the U.S. dollar-dominated financial system and comes amid heightened global trade tensions. VanEck’s Head of Digital Assets Research, Matthew Sigel, confirmed the development, stating that the adoption of Bitcoin ( BTC ) for trade settlement is evolving beyond speculation. “That interest is no longer theoretical. China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets,” he wrote in a recent report. In addition to China and Russia, Bolivia has announced plans to import power using cryptocurrency. French utility giant EDF is also exploring Bitcoin mining to monetize surplus electricity. You might also like: BREAKING: Bitcoin reclaims $81K amid tariff pause, China still hit with 125% rate Crypto’s use cases VanEck’s report places these developments within a broader shift: digital assets are increasingly being used in practical, cross-border commerce, especially in energy markets. For countries facing restrictions in traditional finance channels, Bitcoin offers a neutral and decentralized payment mechanism. The shift may also bolster Bitcoin’s role as a hedge during monetary instability. Sigel noted that dovish signals from the U.S. Federal Reserve have historically supported Bitcoin prices, adding further interest from international players seeking alternative reserves and settlement tools. You might also like: U.S. House hearing reignites crypto regulation push, hopes for clarity ‘this year’