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Russia Can Use BTC In Foreign Trade!
How many more days before the bull-run ends?
Coinsauce
December 27, 2024
Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headline from the last 24 hours:
• Russia Can Use Bitcoin in Foreign Trade
📕Educational :
• There are still ~300 days left of our current bull cycle
Lets dive in.
📅 Today
Russia Embraces Bitcoin ⚡️
Russia is making bold moves in the crypto space, with Bitcoin ($BTC) taking center stage in international trade. President Vladimir Putin recently criticized the U.S. for undermining the dollar's status as the global reserve currency, prompting countries to explore alternatives like Bitcoin, which he praised as beyond regulation by any single entity.
Finance Minister Anton Siluanov confirmed that Russian companies are already using Bitcoin and other digital currencies for foreign trade, following new legislation aimed at countering Western sanctions.
Key updates:
Cryptocurrencies are now permitted in foreign trade, allowing them to bypass western sanctions.
Russia is working to legalize crypto mining, especially in Siberia, where Bitcoin mining is thriving.
Bitcoin mined in Russia is being used for trade transactions under a pilot program, with plans for expansion next year.
"International payments in digital currencies are the future," Siluanov declared, signaling Russia’s growing commitment to the crypto economy.
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🌎 Other News
📕 Educational
Bitcoin is still right on track, closely following our previous two cycles.
This would also indicate there are still ~300 days left of our current bull cycle.
With BTC Dominance still at 58%, an alt-season has still not started.
H1 of 2025 is expected to be bullish for BTC, and mega-bullish for alts.
📊 Stat of the day
Throughout its history, $BTC has multiplied its value by 10 eight times (starting from $0.01), and just one more 10x rally could take it to $1 million
🤣 Meme of the day
That concludes our update for today!
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Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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