{"id":825983,"date":"2025-02-10T14:12:21","date_gmt":"2025-02-10T20:12:21","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/10\/trumps-tariffs-undermine-promised-bitcoin-boom\/"},"modified":"2025-02-10T14:12:21","modified_gmt":"2025-02-10T20:12:21","slug":"trumps-tariffs-undermine-promised-bitcoin-boom","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/10\/trumps-tariffs-undermine-promised-bitcoin-boom\/","title":{"rendered":"Trump\u2019s Tariffs Undermine Promised Bitcoin Boom"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/41169a86822e6585e2f87627f7d7ef3a?s=32&#038;d=mm&#038;r=g\"  height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/mahu_bs\" title=\"Posts by Mark Hunter\" rel=\"author\">Mark Hunter<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>1 week ago<span>Mon Feb 03 2025 09:17:32<\/span><\/p>\n<p><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/header>\n<p><img width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2025\/02\/Trumps-Tariffs-Undermine-Promised-Bitcoin-Boom.png\" alt=\"bitcoins Trump\u2019s-Tariffs-Undermine-Promised-Bitcoin-Boom\" title decoding=\"async\" fetchpriority=\"high\" data-layzr=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2025\/02\/Trumps-Tariffs-Undermine-Promised-Bitcoin-Boom.png\">\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span> 2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>President Trump\u2019s recent imposition of tariffs on imports from Canada, Mexico, and China has led to a decline in Bitcoin\u2019s price<\/span><\/li>\n<li aria-level=\"1\"><span>These tariffs have heightened global economic uncertainty, prompting investors to move away from riskier assets like cryptocurrencies<\/span><\/li>\n<li aria-level=\"1\"><span>The initial optimism surrounding Trump\u2019s pro-Bitcoin stance has been overshadowed by the negative market impacts of his trade policies<\/span><\/li>\n<\/ul>\n<p><span>Bitcoiners sold on Donald Trump\u2019s vision for the <\/span><a href=\"https:\/\/fullycrypto.com\/cryptocurrency-news\"><span>cryptocurrency<\/span><\/a><span> pre-election have been handed a dose of political reality as his import tariffs have contributed to a 10% drop in its value. President Trump\u2019s recent implementation of tariffs\u201425% on imports from Canada and Mexico, and 10% on goods from China\u2014has contributed to a decline in Bitcoin\u2019s price over the weekend, which fell to $91,300 on Sunday night. Trump\u2019s tariffs have increased global economic uncertainty, leading investors to shift away from riskier assets, including cryptocurrencies, dulling the initial optimism about Trump\u2019s pro-Bitcoin stance.<\/span><\/p>\n<h2>Bitcoins <span>Plenty of Tariffs, No Strategic Bitcoin Reserve<\/span><\/h2>\n<p><span>President Trump announced significant tariffs over the weekend aimed at major U.S. trading partners: a 25% tariff on imports from Canada and Mexico, and a 10% tariff on goods from China. The administration stated that these measures, which Trump had promised on the campaign trail, were designed to address issues such as illegal immigration and the influx of illicit drugs.<\/span><\/p>\n<p><span>Something else Trump promised on the campaign trail was the <\/span><a href=\"https:\/\/fullycrypto.com\/donald-trumps-ten-crypto-promises\"><span>promotion of Bitcoin<\/span><\/a><span>, including a <\/span><a href=\"https:\/\/fullycrypto.com\/what-is-a-strategic-bitcoin-reserve-and-how-would-it-work\"><span>strategic Bitcoin reserve<\/span><\/a><span>, but Bitcoin was one of the victims of the announcement of the tariffs; Bitcoin\u2019s price dropped to the bottom of its near two-month range. This decline was part of a broader market reaction, with major indices like the Dow Jones, S&#038;P 500, and Nasdaq also experiencing downturns.<\/span><\/p>\n<p><span>The reason for the pessimistic price action is that tariffs can significantly impact global markets by increasing the cost of goods, disrupting supply chains and creating economic uncertainty. These factors can lead to higher inflation, prompting central banks to raise interest rates. In such environments, investors often retreat from riskier assets like cryptocurrencies in favor of more stable investments.<\/span><\/p>\n<h2>Bitcoins <span>Has Trump Forgotten Bitcoin?\u00a0<\/span><\/h2>\n<p><span>By introducing economic uncertainties, the anticipated benefits of a pro-Bitcoin Trump administration have been overshadowed by the adverse effects of his administration\u2019s trade policies, while there has been no mention since Trump\u2019s election of a strategic Bitcoin reserve.<\/span><\/p>\n<p><span>Pro-Trump Bitcoiners will be hoping that his tariffs don\u2019t cause too much disruption in the markets and that he won\u2019t <\/span><a href=\"https:\/\/fullycrypto.com\/blockchain-critic-warns-over-trump-follow-through\"><span>forget about his love of Bitcoin<\/span><\/a><span>, which was deemed by many to be a tool to get votes.<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p> Mark Hunter <a href=\"https:\/\/fullycrypto.com\/trumps-tariffs-undermine-promised-bitcoin-boom?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=trumps-tariffs-undermine-promised-bitcoin-boom\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mark Hunter 1 week agoMon Feb 03 2025 09:17:32 Reading Time: 2 minutes President Trump\u2019s recent imposition of tariffs on imports from Canada, Mexico, and China has led to a decline in Bitcoin\u2019s price These tariffs have heightened global economic uncertainty, prompting investors to move away from riskier assets like cryptocurrencies The initial optimism<\/p>\n","protected":false},"author":1,"featured_media":825984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[272,163],"tags":[11476],"class_list":["post-825983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tariffs","category-trumps","tag-bitcoins"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/825983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=825983"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/825983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/825984"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=825983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=825983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=825983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}