TL;DR
- China and Russia have started using Bitcoin for commercial energy payments in response to tensions with the United States and to reduce their reliance on the dollar.
- Bolivia plans to import electricity using cryptocurrencies, and EDF is exploring Bitcoin mining with surplus energy.
- The decline of the dollar and the shift in U.S. monetary policy have led many investors to seek refuge in cryptocurrencies and gold as more stable alternatives.
China and Russia have begun using Bitcoin to settle commercial transactions, particularly in the energy sector.
According to a report by VanEck, this move signals a concrete shift in how both countries handle their exchanges, moving away from the U.S.-dominated financial system. The decision follows heightened trade tensions after the new tariff package imposed by the United States on Chinese imports, which has caused turmoil across global economies.
New Uses for Bitcoin
The interest in digital assets as a payment method is no longer purely speculative. Countries like Bolivia have announced plans to import electricity using cryptocurrencies. In Europe, French company EDF is evaluating whether it can use the surplus energy it exports to Germany to mine Bitcoin. These initiatives aim to diversify international payment systems and reduce exposure to the dollar.
Since the beginning of 2025, the dollar has lost approximately 6.1% of its value. This trend has led many investors to reassess their positions in dollar-denominated assets. Foreign holdings of U.S. financial instruments, which reached around $62 trillion in 2024, have begun to decline. In this context, cryptocurrencies and gold have emerged as possible alternatives to preserve value and facilitate exchanges.
China Orders State Banks to Cut Dollar Purchases
The report also highlights investors’ growing interest in tracking the Federal Reserve’s policy evolution. Changes in interest rate expectations and increased liquidity could support Bitcoin’s performance. Additionally, on-chain activity and potential retaliatory measures by China or the European Union to bypass the dollar-based system could further drive cryptocurrency adoption.
In addition to gradually phasing out the use of the dollar in bilateral agreements, China has ordered its state-owned banks to reduce their acquisition of the currency for reserves. Although Russia was not directly affected by U.S. tariffs, both countries agree on the need to adjust their economic strategies in response to the current geopolitical climate.
