Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.
As I can see all these things to manipulate BTC right? What are your thoughts about this?
As I can see all these things to manipulate BTC right? What are your thoughts about this?
Nope. This is just an attempt to bring the US Dollar down (aka de-dollarization). It won't affect Bitcoin because the cryptocurrency is decentralized. The new BRICS currency would be another centralized Fiat money system that will be used among member states. Nothing innovative here. They would've used BTC as their main currency if they really wanted to "beat" the US Dollar.
I don't get why they've decided to make their own currency instead. Maybe it's about control/power? They can't make their own rules on a decentralized cryptocurrency like Bitcoin. There's a lot of "buzz" surrounding BRICS' new currency, so time will tell us how successful it will turn out to be after launch. Either way, don't expect BTC to go anywhere soon. Just my opinion
