Renewed trade tensions sparked by Donald Trump’s aggressive tariff policy have reignited discussions among analysts about Bitcoin’s long-term potential to outshine the US dollar.
Following Trump’s sweeping executive order on April 2—introducing a flat 10% tariff on all imports—many in the crypto and financial sectors are questioning the dollar’s future resilience. The order took effect April 5, with targeted tariffs on major trade partners beginning April 9.
Jeff Parks, head of alpha strategies at Bitwise Invest, expressed a striking sentiment in an April 9 post on X, stating, “There’s now a higher chance Bitcoin outlives the dollar in our lifetime.” He added that this was the first time the idea didn’t feel hypothetical but something concrete to reckon with.
Bitwise CEO Hunter Horsley echoed this view, pointing out that as faith in the US dollar diminishes—and with other global currencies not offering much strength either—investors are running out of viable alternatives.
“Gold has historically been the go-to during uncertain times,” Horsley said, “but its logistical issues around storage and transport make it less appealing now. Eventually, people are likely to turn to Bitcoin.”
The US Dollar Index, a key metric for the dollar’s value against other major currencies, has dropped to 102.193—falling nearly 6% since the beginning of the year. Despite initial beliefs that the new tariffs would strengthen the dollar, recent analysis from the Wall Street Journal suggests otherwise.
Markets—both traditional and crypto—have reacted with volatility. Bitcoin, which surged past $82,000 earlier this year, is now trading around $76,301, reflecting an 18% decline year-to-date, according to CoinMarketCap.
Economist and Bitcoin advocate Saifedean Ammous weighed in on the broader issue, arguing that the problem isn’t with one nation’s trade imbalance, but with the global reliance on the US’s fiat currency system.
“The money printer allows more and more Americans to live beyond their means, as long as the rest of the world continues using the dollar,” Ammous wrote on April 8.
He suggested the real fix lies in abandoning fiat altogether in favor of hard assets—specifically naming gold and Bitcoin. “The world needs to leave behind America’s ‘shitcoin’ and adopt a hard money standard if it wants to truly rebalance trade.”
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