VanEck Confirms China and Russia Use Bitcoin for Energy Transactions: A Shift in Global Trade

Sean Williams
VanEck

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As global trade tensions intensify, VanEck, a prominent investment firm, has confirmed that China and Russia are now using Bitcoin for some of their energy transactions. This development marks a significant shift in global economic trends, notably within the broader context of de-dollarization.

The growing trend of de-dollarization, accelerated by the Trump administration’s tariff strategies against China and the European Union, is pushing countries to explore alternatives to the U.S. dollar for international trade settlements. VanEck’s recent report, “Digital Assets: De-dollarization Moves Bitcoin Towards Monetary Role,” suggests that Bitcoin is increasingly becoming a preferred alternative for international transactions, particularly for nations seeking to bypass U.S.-dominated financial systems.

Matthew Sigel, Head of Digital Assets Research at VanEck, confirmed that both China and Russia are actively settling energy trades using Bitcoin and other cryptocurrencies. This move aligns with their broader strategies to reduce reliance on the U.S. dollar. Additionally, Bolivia has also expressed interest in using cryptocurrencies to import electricity, while French utility EDF is exploring Bitcoin mining opportunities using surplus electricity. These developments illustrate how Bitcoin is being integrated into global trade beyond its traditional speculative use.

The timing of these shifts is critical. Just as China and Russia embrace Bitcoin, the Trump administration has ramped up its trade war with China, imposing a steep 125% tariff on Chinese imports. This escalation sent Bitcoin’s price soaring, rising 5.6% within an hour to $81,636. The volatility in traditional markets may further fuel Bitcoin’s adoption as a store of value and hedge against geopolitical risks.

VanEck highlights that this trend is part of the broader de-dollarization movement, where the weakening U.S. dollar and rising global uncertainty could position Bitcoin as a more stable, decentralized alternative. As the U.S. dollar continues to decline, Bitcoin could become an even more essential tool for countries seeking financial sovereignty in an increasingly polarized global economy.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: VanEck Files for Spot BNB ETF: Will This Spark a Major BNB Rally?

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