1 week ago
Tariffs and commercialized tensions could yet beryllium affirmative for bitcoin (BTC) adoption successful the mean term, plus manager Grayscale said successful a probe study Wednesday.
Higher tariffs effect successful stagflation— stagnant economical maturation coupled with ostentation — which is antagonistic for accepted assets, but affirmative for scarce commodities specified arsenic gold, the study said.
Bitcoin is considered hard money, akin to integer gold, and is viewed arsenic a modern store of value, the study noted.
Cryptocurrencies surged connected Wednesday pursuing President Donald Trump's announcement of a 90-day intermission connected tariffs for countries that haven't retaliated against the U.S.
"Trade tensions whitethorn enactment unit connected reserve request for the U.S. Dollar, opening abstraction for competing assets, including different fiat currencies, gold, and bitcoin," Grayscale said.
Historical precedent suggests that dollar weakness and above-average ostentation whitethorn persist, and bitcoin is apt to payment from specified a macro backdrop, the plus manager said.
"A rapidly improving marketplace structure, supported by U.S. authorities argumentation changes" could assistance broaden bitcoin's capitalist base, the study added.
Read more: Trump Administration Wants Weaker Dollar and That's Positive for Bitcoin: Bitwise
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