Trump’s Global Tariffs Stir Dollar Doubts, Bitcoin Emerges as New Safe Haven

A storm of financial anxiety has been brewing ever since the U.S. President Donald Trump signed off on sweeping global tariffs earlier this month. But beneath the chaos, a curious shift is taking shape: Wall Street and crypto circles alike are beginning to ask—could Bitcoin outlast the dollar?

Jeff Parks, head of alpha strategies at Bitwise Asset Management, sparked conversation with an unusually candid reflection on April 9, writing on X, “Higher chance Bitcoin survives over the dollar in our lifetime after today.” What once felt like speculation, Parks admitted, now feels like a truth too pressing to ignore.

Bitwise CEO Hunter Horsley echoed the sentiment, pointing out the growing vacuum of trust in traditional currencies. “Gold has its own problems,” he noted, citing the costs and logistics of shipping and storing physical metal. 

With the U.S. dollar’s global credibility on shaky ground and no stronger fiat alternative in sight, Horsley concluded with a bold prediction: “You wind up buying Bitcoin.”

Tariff Shockwaves Shake Markets

The policy that sparked this wave of doubt? A sweeping 10% baseline tariff Trump slapped on all imports effective April 5, followed by even tougher reciprocal tariffs beginning April 9 for countries with major trade imbalances with the U.S. 

The move has been met with criticism across financial circles, not least because it has failed to strengthen the U.S. dollar as many analysts had predicted.

Instead, the U.S. Dollar Index has slipped to 102.19, down nearly 6% since the start of the year. Meanwhile, Bitcoin—despite its reputation as a hedge—hasn’t been immune, currently down 18.37% year-to-date and trading around $76,300, per CoinMarketCap data.

Calls Grow Louder for Bitcoin

Renowned Bitcoin advocate and economist Saifedean Ammous weighed in with a hard-hitting critique, blaming America’s economic imbalance not on trade policy, but on its dependence on printing money. 

“The real issue is the global addiction to fiat,” Ammous posted. His solution? A return to “hard money”—be it Bitcoin or gold.

In a world increasingly skeptical of government-controlled currencies, the idea that Bitcoin might not just survive but thrive is moving from fringe theory to serious debate.