At the BRICS summit in Rio de Janeiro, Vladimir Putin once again criticized the role of the dollar as a 'weapon' in the hands of the USA and called for a faster abandonment of dollar dominance. The focus is on the new international payment mechanism BRICS Pay, based on blockchain and CBDC, designed to bypass SWIFT and reduce dependence on the dollar.
Key findings and signals:
Putin emphasized: 'the dollar is used as a weapon.'
BRICS is actively implementing cryptocurrency in payments and investments, creating infrastructure to circumvent sanction risks.
BRICS Pay is a promising alternative to the dollar system, already supported by China and Iran.
💹 Impact on the crypto market
1. Strengthening the 'hedge' function
The weakening of the dollar and increasing geopolitical uncertainty enhance the appeal of Bitcoin as a safe haven. Analysts note that Bitcoin may receive additional inflationary momentum from the balance of power.
2. Growing interest in stablecoins and CBDC
The use of central bank digital currencies and stablecoins in BRICS Pay could increase demand for such instruments — especially in cross-border settlements and trade.
3. Crypto mining as a tool of geopolitics
The expansion of mining infrastructure in BRICS countries (BitRiver, RDIF) creates a natural platform for the integration of crypto into real transactions and markets.
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