Shengbao Bank's strategist John Hardy said that if the trade tariffs proposed by US President Trump lead other countries to seek alternatives to the US dollar, the digital currency market and gold may benefit. Tariffs will have a terrible impact on global trade, as they will cut off the necessary supply of US dollars. BRICS countries may use methods such as trading with gold-backed digital currencies. Cryptocurrency stablecoins pegged to gold may also be used. The crypto market may double, exceeding $10 trillion, while the US dollar against major currencies may depreciate by 20%, relative to gold which may depreciate by 30%.
盛宝银行:特朗普关税或利好加密货币和黄金
Shengbao Bank: Trump's tariffs may be bullish for cryptos and gold.
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