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Based on information shared by VanEck, China and Russia are now using Bitcoin to pay for energy transactions. This comes as Donald Trump hit China and the European Union with new tariffs. VanEck stated that the global response to these tariffs could aid Bitcoin in the long term.

Someone knowledgeable about the operations of one of the oil traders reportedly told Reuters that crypto payments to China alone are worth tens of millions of dollars every month. These payments are made through intermediaries. Chinese buyers pay in yuan to offshore accounts, then the intermediaries convert it to crypto, send it to another account, and finally, it is converted back into rubles in Russia.