Bitcoin's impact on oil and gas prices: Historical analysis and outlook to 2025

تأثير البتكوين على أسعار النفط والغاز: تحليل تاريخي ورؤية استشرافية حتى عام 2025

Abstract

Public spending is one of the most important pillars for achieving growth, so the research looked to analyze the impact of future technological development on oil prices because of its pivotal role in politics and economics at the international level through the speed of transactions, reducing some costs, and enhancing security and transparency in digital monetary transactions.  Oil prices represent the most important axis for competing international interests in the political, military and economic fields, expanding trade and facilitating access to global markets.  In light of the current global challenges, strategic decision-makers must shed light on the impact of digital technological monetary development on the implementation of oil policies, and put forward possible solutions to enhance this development, to employ digital cash as an effective tool in enhancing its international influence in oil wealth and to ensure the success of its application in the future.  We defined what digital currencies are and their use as a form of future currencies and what are the challenges we face using the term “digital currency”.  The hypothesis was that as a result of market fluctuations and regulatory forms, it has become commonplace as a basis for technology to use the decentralized record of global payments, websites, and data security and safety.  As a result, financial centers around the world are turning to virtual digital currency.  And linking oil and gas buying and selling transactions to Bitcoins and abandoning paper transactions and the dollar.  The price of a barrel becomes contingent on the price of Bitcoin.