- Jeff Park stated that Trump's tariff war could positively impact Bitcoin in the long term.
- He mentioned that Trump's personal wealth structure aims to address dollar strength and trade deficits through tariff policies.
- He argued that the demand for value storage means like Bitcoin might increase due to the tariff war.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
As President Donald Trump's anticipated global tariff war intensifies, the cryptocurrency market is generally showing weakness. However, there is an argument that this trade war could have a positive impact on Bitcoin (BTC) in the long term.
According to cryptocurrency-focused media outlet Cointelegraph on the 2nd (local time), Jeff Park, Head of Alpha Strategy at Bitwise, stated, "The tariff war initiated by Trump could lead to global inflation in the long run," and "Countries opposing the U.S. may increasingly seek value storage means like Bitcoin."
Specifically, Jeff Park mentioned two considerations in Trump's tariff war: the Triffin Dilemma and Trump's personal objectives.
He first noted, "The U.S. wants to maintain low-interest borrowing in dollars while eliminating dollar strength and trade deficits," and "To achieve these goals simultaneously, tariffs are imposed on trade partners."
Jeff Park further emphasized, "We must also pay attention to Trump's personal objectives. Most of Trump's wealth is tied up in real estate, so he wants to lower the 10-year Treasury yield," and "Upon taking office, he pressured Federal Reserve Chairman Jerome Powell to cut rates, but realizing this was ineffective, he proceeded with tariffs."
Escalation of Trump's Tariff War
On the 1st, President Trump signed an executive order imposing tariffs on Canada, Mexico, and China under the International Emergency Economic Powers Act (IEEPA).
Starting on the 4th, a 10% tariff will be imposed on Canadian energy products and 25% on all other products. For Mexico, a 25% tariff will be applied to all products, including energy, and a 10% universal tariff will be imposed on China.
The opposing countries have also responded. Canadian Prime Minister Justin Trudeau announced in an emergency press conference overnight that a 25% tariff would be imposed on U.S. products worth 155 billion Canadian dollars.
Mexican President Claudia Sheinbaum also posted on X (Twitter) that she instructed the Minister of Economy to implement Plan B, including tariff and non-tariff measures to protect Mexico's interests, thus taking retaliatory tariff actions against U.S. products.
Cryptocurrency Market Shows Short-term Weakness
Meanwhile, the onset of the trade war has frozen cryptocurrency investment sentiment.
As of 7:47 a.m. on the 3rd, the leading cryptocurrency Bitcoin fell sharply by 3.20% compared to the previous day, while Ethereum (ETH) and Ripple (XRP) also dropped by 8.44% and 12.33%, respectively.
Cryptocurrency-focused media outlet CoinDesk evaluated, "President Trump's trade war has amplified inflation concerns, and as a result, the outlook for rate cuts has become uncertain, dampening cryptocurrency investment sentiment."

Uk Jin

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