BRICS De-Dollarisation Efforts Could Enhance Bitcoin’s Appeal as a Hedge Asset, Says Analyst Noelle Acheson
The post BRICS De-Dollarisation Efforts Could Enhance Bitcoin’s Appeal as a Hedge Asset, Says Analyst Noelle Acheson appeared on BitcoinEthereumNews.com.
As the BRICS alliance seeks to reduce reliance on the US dollar, Bitcoin may experience significant upward momentum, according to macro analyst Noelle Acheson. The ongoing global economic uncertainty is driving investors toward hedge assets such as Bitcoin and commodities, as rising debt levels intensify this trend. Noelle Acheson highlighted, “Bitcoin’s narrative as a hedge against dollar debasement will strengthen,” providing insights into the potential impacts of the BRICS strategy. This article explores how the BRICS coalition’s de-dollarisation strategy could create opportunities for Bitcoin, highlighting macroeconomic trends and expert insights. The BRICS Alliance and Its Impact on Bitcoin The BRICS coalition, comprising Brazil, Russia, India, China, and South Africa, along with newer members like Iran and the United Arab Emirates, is taking significant steps towards dismantling the dollar’s dominance in global trade. This geopolitical alliance, which accounts for over one-third of the world’s GDP, is exploring alternatives to the dollar-based SWIFT payment system in its latest meetings, marking a pivotal shift in international finance. Noelle Acheson notes that while Bitcoin may not be the direct beneficiary of a new BRICS currency, the overall sentiment surrounding the dollar’s weakening could bolster Bitcoin’s status as a hedge asset. Understanding the Macro Context With the BRICS nations united against perceived Western hegemony, such collaborative efforts to establish an alternative payment system may accelerate the move away from traditional dollar reliance. Historically, Bitcoin has been positioned as a safeguard against inflation and currency devaluation, and these sentiments are likely to gain traction amid the geopolitical shifts. Acheson’s analysis suggests that a weakened dollar could elevate Bitcoin’s narrative, reinforcing its role as a hedge against dollar debasement. Investor Sentiment and the Rise of Hedge Assets The landscape for hedge assets such as Bitcoin has been changing as investor sentiment shifts in response to rising national…
Filed under: News - @ October 25, 2024 9:24 pm