BRICS countries, Brazil, Russia, India, China, and South Africa, are preparing for a highly significant summit. Experts believe that the BRICS summit will bring about radical decisions. Reports indicate that more than 22 countries have officially expressed interest in joining the influential alliance, and an announcement about the alliance’s growth is expected soon.
A Global Transformation
South African President Cyril Ramaphosa is preparing to play a crucial role in this transformation. The statement made by Ambassador Anil Sooklal in Johannesburg during a briefing raised expectations. According to Sooklal, the upcoming summit will not only include an announcement regarding the expansion of BRICS, but it may also pave the way for a global transformation in the international order.
The BRICS bloc has experienced significant growth this year, and the upcoming summit has the potential to determine the short-term and long-term trajectory of the economic alliance. Ambassador Sooklal emphasized the possibility of a significant geopolitical change arising from the event.
The Ambassador described the strength and influence of the BRICS bloc, referring to it as a powerful global force.
“This transformation is not a process that we undergo voluntarily. BRICS will be a pioneer in the tectonic shift you will witness in the global geopolitical architecture, starting from the summit.”
Convergence of Minds
The summit, which has invited more than 70 countries, is expected to be one of the most comprehensive meetings of southern countries in recent times. It is anticipated that these discussions will address current global challenges.
Recent reports reveal differing opinions on the pace of expansion within the bloc, and the upcoming summit is expected to provide clarity on membership criteria. Despite reservations from Brazil and India, China continues to strongly advocate for expansion. As the summit approaches, the world awaits to see the new direction in which the BRICS countries will shape global geopolitics.
Anticipating a Decision Leading to Bitcoin’s Rise
Expectations suggest that the countries within the alliance will embrace international trade with their own currencies instead of the US dollar, which serves as the reserve currency. Such a decision could, as noted by renowned investor Robert Kiyosaki, potentially deflate the US dollar against inflation, leading to the appreciation of commodities such as gold, silver, and Bitcoin.
During a podcast event on August 2, 2023, Kiyosaki emphasized that a radical decision from the BRICS summit could propel the price of Bitcoin to $120,000 in 2024.
