BRICS is contemplating a major expansion

BRICS is contemplating a major expansion

You may have heard of the BRICS alliance, which includes countries like Russia, China, India, Brazil and South Africa. We hear more and more that they are looking for an alternative to the US dollar as Western sanctions against Russia, among other things, freeze their reserves in the financial system.

These countries are trying to come together to create an alternative world currency, and many countries are interested in it.

Many countries

If we Words Brazilian President Luiz Inacio Lula da Silva believes there are many proposals from countries willing to join the BRICS. In essence, BRICS was formed by emerging economies to replace the hegemony of the US dollar.

However, for years, that was a big promise, but now that mission seems to be taking more serious forms. Brazil’s President Lula, standing next to Venezuela’s President Nicolas Maduro, shared his candid views on Venezuela. to welcome In BRICS.

“This is my first BRICS meeting in eight years. There are many proposals from countries to join BRICS. We are going to discuss it. Because it depends not only on the will of Brazil, but on all participants,” said Lula.

How many countries?

If we are to believe the words of African Ambassador Anil Souklal, more than a dozen countries from Africa, Latin America and Asia want to become members of BRICS.

“So far, several countries (at least 13) from Africa, Latin America and Asia have applied or formally approached to join the BRICS. “This is positive news for the alliance as it shows the Global South’s confidence in BRICS leadership,” Sooklal said.

None of this means anything for Bitcoin yet, except that in principle, the BRICS alliance is planning some sort of “attack” on the US dollar.

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