"Trump President's Tariff Policy, Intention to Weaken Dollar"
"BTC Rises Following Global Currency System Changes"
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Hugan pointed out that Trump's recent tariff policy could ultimately work favorably for the cryptocurrency market. He explained that President Trump might abandon the dollar's status as a global reserve currency through aggressive tariff policies.
Hugan cited a speech by Steve Mnuchin, Chairman of the White House Economic Advisory Committee. On the 7th, Mnuchin said, "The dollar's reserve currency status has created a continuous monetary distortion system and destroyed US manufacturing."
Hugan emphasized that the Trump administration is changing the current global monetary system order, which will provide opportunities for alternative reserve assets like Bitcoin and gold. He mentioned, "Governments and corporations have relied on the dollar in international trade due to its stability, but the moment the dollar's dependency collapses, other alternative assets will be in the spotlight."
In fact, the US dollar has fallen by about 7% against six major global currencies since the Trump administration took office.
Hugan stressed, "Bitcoin and gold will take on the role of hard currency in international trade that previously depended on the US dollar, and the world's international trade system will show an increasingly fragmented aspect."
According to a report by global asset management firm Van Eck, China and Russia were found to have used Bitcoin for trade between the two countries in April.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
