President Trump's new tariffs on imports from Canada, Mexico, and China have stirred fears of a global trade war, leading to substantial declines in U.S. stock markets and cryptocurrencies like Bitcoin and Ethereum. Bitcoin specifically dropped nearly 7%, impacting companies like MicroStrategy that heavily invest in cryptocurrency. With tariffs expected to affect 43% of U.S. imports, industries like automotive and oil will feel substantial consequences, as will the cryptocurrency market. This climate of uncertainty raises concerns about the resilience of Bitcoin as a safe investment in the face of economic turmoil.
Bitcoin has become an increasingly risk-averse investment, one that could be negatively impacted by the turmoil a global trade war creates.
If Bitcoin topples because of tit-for-tat tariffs, its stock could crumble on any pricing collapse.
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