I still think that’s in play,” Bitwise chief investment officer Matt Hougan said in an April 9 blog post. He suggested that the fallout from US President Donald Trump’s global tariff push could be beneficial for Bitcoin (BTC) and crypto because his administration “wants a weaker dollar, even if it means ending its role as the world’s reserve currency.”Hougan cited an April 7 speech by Steve Miran, chairman of the White House Council of Economic Advisers, which criticized the dollar’s reserve status as causing “persistent currency distortions” and “unsustainable trade deficits” that have “decimated” US manufacturing.
Source: MacroMicro The DXY, which compares the value of the US dollar to a basket of six major currencies, has fallen more than 7% since the beginning of 2025, according to TradingView. In the long term, Hougan said disruption to the global reserve currency system creates opportunities for alternative reserve assets, including Bitcoin and gold. “Governments and companies turn to the dollar for international trade precisely because of its stability.
When that stability comes into question, they have to look elsewhere.”The Bitwise executive concluded that the world will move from a single reserve currency to a “more fractured reserve system, with hard money like Bitcoin and gold playing a bigger role than it does today.”Earlier this week, VanEck said that China and Russia were reportedly settling some energy trades in Bitcoin as Trump’s trade war ramps up.
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Author / Journalist: Cointelegraph by Martin Young
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