Saudi Arabia stands for 11% of world’s oil production. When USA went off the Gold Standard in 1971 they had to sign a 50 year deal with Saudi. Now that deal has ended and they can sell oil in #bitcoin.

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But it will probably be #gold

If a dictatorship embraces Bitcoin for geopolitical gain and an increase to its coffers, it risks energising a tool which its citizens can use to challenge its power within its territory.