Breaking News! BRICS fiercely retaliates against US tariffs, the crypto circle is ready to 'step up' on the dollar!!!
Recently, the international situation is more exciting than a TV drama, a major event capable of shaking the crypto market is unfolding, and I'm here to share the gossip!
The US suddenly implements a new tariff policy, targeting the advantageous industries of the BRICS group with this 'economic knife'. The costs of Brazilian agricultural products and Russian energy exports have significantly increased, undermining their competitiveness. Brazil reacted swiftly, with the Ministry of Foreign Affairs working day and night to gather evidence, filing complaints with the WTO, and discussing countermeasures with allies.
At the BRICS summit in Rio, leaders were indignant. Lula slammed the US hegemony on the table, and Modi raised his fist calling for a boycott. They also urged for less use of the dollar, which is undoubtedly setting fire to the 'old nest' of the dollar. Indian and Brazilian leaders Modi and Lula huddled together, perhaps plotting a 'fatal blow' to the US.
This move has turned the crypto market upside down. The BRICS group is reducing its dependence on the dollar, akin to throwing cold water on the dollar 'superstar'. Russia has already promoted ruble settlements in energy transactions, challenging the dollar's dominant position. At this moment, decentralized cryptocurrencies have become the new favorites of investors, with financial institutions like Goldman Sachs and Morgan Stanley actively getting involved.
As trade frictions escalate, traditional financial markets are like a roller coaster, with investors, like startled birds, seeking safe havens, and cryptocurrencies have become the first choice. Veteran investor Lao Zhang experienced significant fluctuations in traditional investment returns, but after switching to cryptocurrencies, he reaped substantial profits.
The BRICS group is promoting changes in the payment system, presenting opportunities for cryptocurrency payment functions. Some cross-border e-commerce platforms have introduced Bitcoin payments, which are convenient, fast, and have low transaction fees, resulting in a surge in order volume. In the future, as the use cases for cryptocurrencies increase, it will be like building a highway, and their market value and influence will skyrocket.
The 'great battle' between BRICS and the US has just begun, and the excitement in the crypto market is yet to come. I will closely monitor the dynamics and share updates promptly, waiting together for the crypto market to bring surprises and wealth!
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