The recent U.S. measures to increase tariffs on the semiconductor industry have not only reshaped the global supply chain landscape but also provided new support for the long-term value logic of Bitcoin. Although the semiconductor tariff policy announced by the Trump administration underwent a brief exemption adjustment, its profound impact on the technology industry chain, along with the macroeconomic chain reactions it triggered, is strengthening Bitcoin's appeal as 'digital gold' and a 'non-sovereign asset' from multiple dimensions.
1. The rising costs of the supply chain and the highlighting of Bitcoin's hedging properties
The Trump administration plans to impose industry tariffs of up to 25% on semiconductors and related electronic products (potentially stacking existing reciprocal tariffs to 45%-70%), which directly raises the costs of mining machine production and maintenance. However, this cost pressure highlights Bitcoin's scarcity and anti-inflation characteristics. For example, after the announcement of the tariff exemption policy in April 2025, Bitcoin quickly broke through the resistance level of $83,000, reaching a peak of $85,900, reflecting the market's view of Bitcoin as a hedging outlet against policy uncertainty.
Additionally, the supply fluctuations in semiconductors caused by tariffs may accelerate the migration of mining companies to low-cost regions (such as Southeast Asia or Latin America), which could optimize the global distribution of computing power in the long term, reduce energy dependence, and enhance the decentralization of the Bitcoin network.
2. Expectations of dollar depreciation and Bitcoin's inflation hedging function
The semiconductor tariffs have intensified global trade frictions, forcing the Federal Reserve to potentially alleviate economic pressure through loose monetary policies. Historical data shows that during the $3 trillion expansion of the Federal Reserve's balance sheet in 2020, Bitcoin's price surged over 300%. The current expansion of the U.S. fiscal deficit and potential monetary easing policies may further weaken the dollar's purchasing power, prompting capital to shift towards fixed-supply assets like Bitcoin.
In addition, the price increase of imported goods caused by tariffs may drive up inflation, and Bitcoin, with its hard cap design of 21 million coins, is becoming a tool for institutions to hedge against fiat currency devaluation. For instance, asset management company Fidelity points out that Bitcoin can serve as a reserve asset for companies to combat 'fiscal deficits and geopolitical risks.'
3. The trend of de-dollarization and the global liquidity demand for Bitcoin
U.S. tariff policies have intensified the crisis of trust in the dollar system among various countries. China, Russia, and Middle Eastern countries have attempted to reduce dollar settlements, and Iran has even used Bitcoin to bypass oil sanctions. This trend of de-dollarization directly enhances the demand for Bitcoin as a 'stateless currency.'
At the same time, capital controls caused by tariffs (such as foreign exchange restrictions in emerging markets) have driven a surge in trading volumes of stablecoins like USDT, indirectly enhancing the liquidity of the cryptocurrency market. Meanwhile, compliant stablecoin USDC may further reinforce Bitcoin's bridging role in cross-border settlements due to the expanding cross-border payment needs of U.S. companies.
4. Market reconstruction and institutional layout under policy uncertainty
The Trump administration's tariff policy is erratic (for example, after announcing exemptions on April 14, it plans to restore semiconductor tariffs), exacerbating the volatility risk of traditional asset classes. In contrast, Bitcoin's independence shields it from the direct impacts of a single country's policies. Although corporate Bitcoin reserves shrank in the short term (such as a $4 billion reduction in early April), institutions like Binance point out that Bitcoin has demonstrated price resilience under tariff impacts, even rebounding against the trend.
In the long run, adjustments in the mining machine supply chain (such as relocating to non-tariff zones) may reduce the concentration risk in the industry, while support for domestic mining policies in the U.S. (such as Trump's encouragement for Bitcoin 'to be mined in the U.S.') may attract more compliant capital.
Conclusion
The U.S. semiconductor tariff policy appears to impact the traditional economic order but is actually injecting new growth momentum into Bitcoin from multiple aspects, including inflation expectations, reconstruction of monetary sovereignty, and capital flow demands. In the context of deepening globalization rifts, Bitcoin is gradually evolving from a 'high-risk speculative asset' into the 'infrastructure of a new financial order,' and its characteristics of value storage and resistance to censorship will become increasingly prominent amid the wave of trade protectionism. Investors need to pay attention to Federal Reserve policies, on-chain data, and geopolitical risks to seize structural opportunities for Bitcoin during turbulent cycles.
