17h25 ▪
5
min reading ▪ by
Nicolas T.
As Europe slowly realizes its delay, Russian bitcoin miners are calls from the foot to BRICS.
Russian miners in charge
A recent press release from Bitriver confirms that the Russian Bitcoin industry is well ahead of that of Europe.
Russia’s largest miner says the country already powers the world’s second-largest computing power, behind the United States. BitRiver anticipates a clear acceleration in its growth thanks to the new legislative framework.
“The Bitcoin Industry Development Law signed by Vladimir Putin in August constitutes an important strategic step forward for Russia’s economic development.
Our country can claim first place thanks to its energy resources, skills and experience. We also have economic ties with BRICS and the Community of Independent States (CIS) which are interested in investing in the bitcoin industry.
The world needs a new decentralized multipolar economy where miners are the foundation because they build the blockchain. »
Bitriver expects investment from BRICS countries to abound in Russia and is currently building infrastructure capable of delivering 1 gigawatt hour of electricity, which would triple its current capacity.
“It’s a question of financial sovereignty. This is why we anticipate growth in the Bitcoin industry in Russia”we can read in the press release.
Let us also remember that the Russian sovereign wealth fund has also been involved since the last BRICS summit, as have two other member countries of the club. These are Ethiopia and the United Arab Emirates. The latter are already well established in Russia and it is rumored that their reserve reaches more than 300,000 BTC…
And in Europe? Nothing. Fortunately, MP Sarah Knafo has kicked in the European technocratic anthill. Let’s hope it is heard.
Bitcoin, the gold of the third millennium
Thus, tongues are starting to loosen since Donald Trump’s victory. His pro-bitcoin government and his intention to make peace with Russia bode well.
It appears that the next US administration intends to trade on equal terms rather than start a world war.
BRICS will not go back. The United States lost the exorbitant privilege of printing international currency when it froze Russia’s reserves (~300 billion euros and dollars).
The dollar is truly the Gordian knot of geopolitical tensions. This is what emerges from the latest statements by the Russian president:
“The fact that the dollar is the world currency brings a lot of unearned money to the United States. According to our experts, the profit from the dollar was equivalent to 10 trillion dollars over the last decade, simply because the dollar is used as the world’s reserve currency. […]. Ten thousand billion is a lot, it means that they consume more than they produce. The dollar allows the United States to live at the expense of the rest of the world. »
Sooner or later, Washington will have to accept that countries like Russia, China, the United Arab Emirates and Saudi Arabia stop investing their trade surpluses in Treasury bonds.
The end of the petrodollar system will result in a reduction of the abysmal US trade deficit to prevent the depreciation of the greenback. In other words, Americans will have to stop living beyond their means thanks to the privilege of minting the international currency.
Bitcoin is this neutral currency that could put everyone in the same boat. It is stateless and cannot be “frozen” against a backdrop of geopolitical tensions.
Better yet, bitcoin is the best store of value in human history, by far. This is the true technological breakthrough invented by Satoshi Nakamoto: a currency in absolutely finite quantity.
Don’t miss our article: “Russia – Strategic Bitcoin Reserve Takes Shape”.
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Nicolas T.
Reporting on Bitcoin, “the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy”.
