Ethereum’s price dropped 5.4%, BNB 3.7%, terra 0.3%, solana 5.63%, cardano 10.4%, and XRP 10.5%, and dogecoin 0.1%.
First, Russia is tossing around the idea of accepting bitcoin for its fossil fuel exports.
On The Run, an Australian company that owns over 170 BP stations, will let its customers pay for gasoline in bitcoin.
Marcus Sotiriou, analyst at digital asset broker GlobalBlock, thinks that this could be the beginning of bitcoin’s emergence as a neutral “petro-asset”.
This has led Russia and its ally China to consider neutral oil payment alternatives to the dollar.
“A new neutral reserve asset, which I believe will be gold, will be used to facilitate global trade in energy and foodstuffs.
Not so long ago, Wall Street laughed off this cryptocurrency as history’s biggest fad.