Close Menu
Soup.io
  • Home
  • News
  • Technology
  • Business
  • Entertainment
  • Science / Health
Facebook X (Twitter) Instagram
  • Contact Us
  • Write For Us
  • Guest Post
  • About Us
  • Terms of Service
  • Privacy Policy
Facebook X (Twitter) Instagram
Soup.io
Subscribe
  • Home
  • News
  • Technology
  • Business
  • Entertainment
  • Science / Health
Soup.io
Soup.io > News > Business > BRICS, Dollar, Bitcoin, and the Battle for Currency Supremacy
Business

BRICS, Dollar, Bitcoin, and the Battle for Currency Supremacy

Cristina MaciasBy Cristina MaciasJune 2, 2025Updated:June 10, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
BRICS, Dollar, Bitcoin, and the Battle for Currency Supremacy
Share
Facebook Twitter LinkedIn Pinterest Email

For several years now, the BRICS+, an alliance of Brazil, Russia, India, China, South Africa, and other countries, has been expressing the desire to reduce dependence on the US dollar in international transactions.

Such an initiative is seen as an instrument for breaking the economic domination of the United States.

The idea of an alternative payment method has long been mooted, with China and Russia as the main powers enforcing this initiative. However, this project seems to have been put on hold or even abandoned due to serious intra-BRICS disagreements and economic constraints.

Brazil, an influential member of the bloc, states that it is interested in the dollar remaining one of the dominant currencies until 2035 due to the absence of a credible alternative in the short term.

Its government also added that the BRICS lacks the institutional cohesion to launch a new common currency, along the lines of the ECB-led euro.

Also, Donald Trump’s threats against any country considering abandoning the “almighty dollar” prompted the Indian government to reject any initiative seeking to weaken the dollar. Instead, India prioritizes stable trade relations with the United States to safeguard its foreign exchange reserves.

These contrasting positions among key players highlight a growing geopolitical divide within the bloc. While some members push for a break from the American economic order, others favor economic realpolitik. Such a dynamic is unlikely to cause a further fall of the US dollar and DXY index performance in the foreseeable future.

In the long term, the dollar is unlikely to lose its crown as the dominant fiat currency. If it is to be dethroned for a period of time, it may not be because of another state currency like Euro, which, by the way, is grabbing pips against the dollar with the EURUSD rate nudging higher, or a hypothetical BRICS currency. Rather, this may be a decentralized cryptocurrency, such as Bitcoin.

Cryptocurrencies are showing prominent growth this year. The rise in Bitcoin price undoubtedly reflects a growing trust and confidence in crypto.

As a possible alternative to the USD, which is deeply rooted in the very foundations of the global financial system, Bitcoin and other cryptocurrencies may challenge the fiat currencies, changing the global economic landscape.

Sovereign currencies have their own limitations, including extensive state control and sanctions. Politics plays a major role in their exchange rates, resulting in international trade instability.

Major economic players are starting to move toward neutral alternatives that go beyond government control. For the time being, the global economy remains tied to the dollar, and the BRICS, despite its ambitions, doesn’t yet have the ability to replace it.

Thus, de-dollarization is still held back by economic realities and geopolitical divisions. The buck still reigns supreme, and if a challenger is to emerge, it may come from decentralized finance rather than from governments.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleRenting vs. Buying: What Bangalore Residents Need to Know About Furniture Choices
Next Article Why Sacramento Homeowners Trust Aloha Home Services for Cleaner Chimneys, Healthier Air, and Year-Round Peace of Mind
Cristina Macias
Cristina Macias

Cristina Macias is a 25-year-old writer who enjoys reading, writing, Rubix cube, and listening to the radio. She is inspiring and smart, but can also be a bit lazy.

Related Posts

The Challenges of Customer Relationship Management & Customer Service

July 19, 2025

Zac Barnett Explains NAV Financing: How Private Equity Funds Leverage Portfolio Assets for Liquidity

July 18, 2025

MiCA vs GENIUS: Europe Takes Early Lead in Crypto Rules

July 17, 2025

Subscribe to Updates

Get the latest creative news from Soup.io

Latest Posts
The Bradys DVD: Brady Bunch Episodes Revisited
July 19, 2025
Kraven The Hunter Blu Ray Release Date: Digital Release Arrives
July 19, 2025
What Does Ransomware Mean? Exploring Its Definition and Risks
July 19, 2025
Godzilla X Kong Ticket: Movie Ticket Sales Surge
July 19, 2025
Crafting Unforgettable Celebrations with Premium St. George Event Rentals
July 19, 2025
The Challenges of Customer Relationship Management & Customer Service
July 19, 2025
Turbocharged Diesel Gains: The Case for Smarter Tuning
July 18, 2025
How to Create Realistic 3D Automotive Models for Racing Games
July 18, 2025
Zac Barnett Explains NAV Financing: How Private Equity Funds Leverage Portfolio Assets for Liquidity
July 18, 2025
Amoeba Music Store Locations: Experience the Revival
July 18, 2025
Luma AI Ray2: Innovations at Dream Lab LA
July 18, 2025
Designing a Pool for Large Families and Gatherings
July 18, 2025
Follow Us
Follow Us
Soup.io © 2025
  • Contact Us
  • Write For Us
  • Guest Post
  • About Us
  • Terms of Service
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.