China and Russia to settle energy deals in Bitcoin

Bitcoin is becoming a more prominent player in international trade, especially for countries looking to bypass US control over their financial systems. This week, Russia and China announced plans to use the decentralized cryptocurrency for energy payments, Reuters said in a report.

In a similar vein, Bolivia revealed that it intends to pay for its electricity imports in Bitcoin, while the French EDF company is considering entering the crypto mining sector. Digital assets are being widely used for cross-border transactions as economic challenges persist, the agency commented. 

The trade conflict intensified when the Trump administration enacted a 104% tariff on Chinese imports on April 2, which was later hiked to 125%. The dispute has sparked uncertainty in traditional markets, prompting investors to look for alternative assets such as Bitcoin and gold.

Analysts say the crypto is particularly enticing in this climate because it is not tied to governments and cannot be easily manipulated like traditional currencies.