The lingering fears triggered by US President Donald Trump’s sweeping global tariffs have analysts increasingly convinced that Bitcoin is now more likely than ever to challenge the US dollar in the years ahead.
According to Bitwise Invest head of alpha strategies Jeff Parks, there is a higher chance that Bitcoin will survive over the dollar after the implementation of global tariffs.
With trust in the US dollar waning and other foreign currencies seen as weaker, investors are left with fewer choices, leading to the belief that Bitcoin may be the only option left.
The US Dollar Index has been weakening in recent months, down 5.84% since January 1, contributing to the view that Bitcoin may become a stronger alternative.