Bitcoin's surge triggered by escalating trade war, according to Charles Hoskinson's perspective
**"Hey there! Buckle up, 'cause we're diving into some crypto talk! Charles Hoskinson, the genius behind Cardano, thinks Donald Trump's trade policies could send Bitcoin soaring. Here's why!
In an interview on CNBC's Squawk Box, Hoskinson dropped a bombshell. He believes rising global tensions, particularly between the U.S. and China, will shove folks towards cryptocurrencies as traditional economic systems crumble.
Hoskinson argues that escalating tariffs would speed up deglobalization, making digital assets like Bitcoin the go-to for cross-border transactions. He sees the world veering away from a rules-based order towards an era of great powers conflict, much like the Cold War.
During the Cold War, global agreements weren't exactly the bee's knees, and countries operated independently. This independence could potentially weaken traditional global commerce, pushing people towards cryptocurrencies for maintaining economic connections.
Hoskinson is quite confident about Bitcoin's future. He predicts a massive surge in its value, stating, "I think Bitcoin will be over 250,000 by the end of this year or next year." He's got his fingers crossed that markets adapt to the ongoing U.S.-China conflict and that crypto stands out as a stable global alternative amid the chaos.
Initially, Bitcoin took a tumble, falling below $76,000 when the tariffs were announced. But guess what? It bounced back to $80,830 shortly after.
It's not just Hoskinson who sees Bitcoin's global potential. Matthew Sigel from VanEck predicts governments and companies will turn to Bitcoin for international settlements, especially in energy trade as tensions rise.
Now, here's a heads-up. Although Bitcoin has shown resilience in the face of trade conflicts, it's still a volatile asset. Some analysts foresee more drops, so keep an eye on that $54,000 threshold. But remember, every drop could be a chance for a quick rebound. Crazy, huh?"
- Charles Hoskinsion, the creator of Cardano, anticipates that Donald Trump's trade policies may propel Bitcoin due to increasing geopolitical tensions, particularly between the U.S. and China.
- Hoskinson posits that the acceleration of tariffs will contribute to deglobalization, making digital assets like Bitcoin ideal for cross-border transactions as traditional economic systems falter.
- In a world that might resemble the era of the Cold War, with a shift from a rules-based order to a period of great power conflicts, Hoskinson envisions an increased preference for cryptocurrencies in maintaining economic connections, due to the potential weakening of traditional global commerce.
- Businesses and governments, such as Matthew Sigel from VanEck, are also recognizing Bitcoin's global potential, especially in international settlements, as tensions rise, particularly in energy trade.
