The creator of the smart contract platform Cardano (ADA) says that crypto assets will benefit from Donald Trump’s tariff war.
In a new interview on CNBC Squawk Box, crypto veteran Charles Hoskinson says that Trump’s trade war will ultimately lead to a massive six-figure price tag for Bitcoin (BTC).
According to Hoskinson, Trump’s tariffs will deglobalize the world economically, pushing people toward digital assets as a means of globalization.
“What ends up happening is crypto benefits in the long term. Geopolitically, what’s happening is we’re moving from a rules-based international order to a powers conflict. We spent our entire adult lives under a rules-based international order but our parents and grandparents, they lived under great powers conflict.
It was the United States and Soviet Union going at it, so it didn’t matter what the trade deal was, it didn’t matter what the rule law was. If the Soviet Union wanted to do something or the US wanted to do something, they just do it and now we go back to great powers conflict.
If Russia wants to invade Ukraine, it invades Ukraine. If China wants to invade Taiwan, it’s going to do that. Treaties don’t really work so well and global business doesn’t really work so well there, so your only option for globalization is crypto.”
He goes on to note that he believes the crypto king will reach a staggering price tag of $250,000 by the end of this year or early next year, driven by the economic struggle between the US and China.
“I think Bitcoin will be over 250,000 by the end of this year or next year. What’s going to drive that [is] that the tariff stuff will be a dud and then people will realize that the world is willing to negotiate and it’s really just US versus China. A lot of people will side with [the] US, some people side with China, [but] the markets will stabilize a little bit and they’ll get used to the new normal.”
Bitcoin is trading for $81,275 at time of writing, a 5.5% gain during the last 24 hours.
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