Trump's IEEPA tariff order could boost bitcoin growth
2025-02-05 20:54:31
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US President Donald Trump recently invoked the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs on Mexico, Canada, and China, raising concerns about the dominance of the US dollar. The move not only affects the global trade landscape, but may also prompt more investors to turn to bitcoin as a safe haven. James Butterfill, head of research at CoinShares, pointed out that the unconventional use of IEEPA could accelerate global de-dollarization, driving capital flows to decentralized assets such as bitcoin to hedge against economic instability. Gordon Grant, a crypto derivatives trader, also believes that frequent use of IEEPA could weaken dollar credit and make digital assets such as bitcoin more attractive.
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