koinmilyoner
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Bullish
According to Binance CEO Trump's tariff policies may hasten interest in cryptocurrencies.
The divisive trade policies of U.S. President Donald Trump might "accelerate" interest in the digital asset industry, Binance CEO Richard Teng said on Tuesday.
Richard Teng, Binance CEO, Shares His Viewpoint
Teng states in an April 8 X post that while "macro uncertainty" brought on by Trump's recent tariff measures may cause a "risk-off response" in the near future, the long-term consequences might be helpful to the bitcoin market overall.
"Look ahead, though, this environment could also hasten interest in crypto as a non-sovereign store of value," Teng added. "Many long-term holders still see Bitcoin and other digital assets as robust under changing policy dynamics and economic stress."
Teng did admit, however, that the "resurgence of trade protectionism" is generating instability in the markets, especially in cryptocurrencies.
Teng's remarks came less than a week after Trump unveiled his tariff proposal, which essentially set a 10% minimum on duties on imports from almost every nation.
With important participants in the U.S. stock market swinging wildly, the statement pushed markets all around into a whirl.
Digital assets were no exception; the value of Bitcoin dropped over $10,000 last weekend.
But as of Tuesday, the value of the token was hovering at $77,000, a more than 2% decrease from April 7.
The Tariffs of Donald Trump Stir Economic Feathers
Talking to reporters on Monday aboard Air Force One, Trump compared the tariffs to "medicine" needed to "fix something."
"We have been treated so poorly by other countries because of foolish leadership that let this happen," Trump said. "They grabbed our businesses, our money, and our employment."
Only time will tell if Teng is right about Trump's tariffs sparking more interest in the blockchain industry as trade barriers rise between the U.S. and other countries.
#RichardTeng #BTCvsMarkets #TrumpTariffs #VoteToListOnBinance #PowellRemarks $BTC $ETH $BNB
The divisive trade policies of U.S. President Donald Trump might "accelerate" interest in the digital asset industry, Binance CEO Richard Teng said on Tuesday.
Richard Teng, Binance CEO, Shares His Viewpoint
Teng states in an April 8 X post that while "macro uncertainty" brought on by Trump's recent tariff measures may cause a "risk-off response" in the near future, the long-term consequences might be helpful to the bitcoin market overall.
"Look ahead, though, this environment could also hasten interest in crypto as a non-sovereign store of value," Teng added. "Many long-term holders still see Bitcoin and other digital assets as robust under changing policy dynamics and economic stress."
Teng did admit, however, that the "resurgence of trade protectionism" is generating instability in the markets, especially in cryptocurrencies.
Teng's remarks came less than a week after Trump unveiled his tariff proposal, which essentially set a 10% minimum on duties on imports from almost every nation.
With important participants in the U.S. stock market swinging wildly, the statement pushed markets all around into a whirl.
Digital assets were no exception; the value of Bitcoin dropped over $10,000 last weekend.
But as of Tuesday, the value of the token was hovering at $77,000, a more than 2% decrease from April 7.
The Tariffs of Donald Trump Stir Economic Feathers
Talking to reporters on Monday aboard Air Force One, Trump compared the tariffs to "medicine" needed to "fix something."
"We have been treated so poorly by other countries because of foolish leadership that let this happen," Trump said. "They grabbed our businesses, our money, and our employment."
Only time will tell if Teng is right about Trump's tariffs sparking more interest in the blockchain industry as trade barriers rise between the U.S. and other countries.
#RichardTeng #BTCvsMarkets #TrumpTariffs #VoteToListOnBinance #PowellRemarks $BTC $ETH $BNB
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