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Bitcoin upside seen amid tariff turmoil
Bangkok Post
|May 05, 2025
Bitcoin surged past gold and tech stocks alike in April, rekindling the debate over whether the largest cryptocurrency serves as a refuge from market turmoil such as the anxiety triggered by sweeping US tariffs.
President Donald Trump's announcement of reciprocal tariffs on April 2 sent shockwaves across global markets. The Nasdaq Composite is down 0.2% since April 1, while the Bloomberg Dollar Index has slipped around 4%.
Gold, a go-to refuge in periods of uncertainty, rallied to a record high of $3,500 an ounce before paring some gains, to return 6.1% for the month.
Bitcoin, however, posted a roughly 12% increase since April 1, with advocates saying it acted as an alternative hedge amid growing concerns over US fiscal policy and institutional stability.
Denne historien er fra May 05, 2025-utgaven av Bangkok Post.
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