THINKING OUT LOUD:

If the BRICS is planning on rolling out a cryptocurrency backed by gold, where does Bitcoin fit in this global picture? A hostile West and a gold backed stable coin in the East.

Why is Bitcoin now viewed with favor by China who was not very fond of it initially?

Why is Bitcoin now viewed positively by a group of nations planning to roll out a cryptocurrency backed by gold?

Reference

https://markets.businessinsider.com/news/currencies/dollar-dominance-russia-iran-gold-backed-stablecoin-crypto-2023-1

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