According to Odaily Star Daily, VanEck's head of digital asset research, Matthew Sigel, stated that Argentina, the UAE, and Ethiopia among the BRICS countries have started utilizing government resources for Bitcoin mining.
Sigel stated that this move highlights a new trend among BRICS countries exploring digital assets to achieve economic resilience and financial independence. The BRICS alliance now includes six new countries, with a total GDP exceeding that of the G7.
Sigel pointed out that the Russian sovereign wealth fund has also invested in Bitcoin mining and artificial intelligence infrastructure within the BRICS group, aiming to establish a regional system that uses Bitcoin for settling international trade, potentially reducing dependence on the US dollar.
He believes that the current market landscape is very favorable for Bitcoin, with the recent surge in Bitcoin aligning with increased betting odds on a Trump victory and high volatility patterns following the election results.
