Michael Saylor has again reiterated the decentralized and advantageous nature of Bitcoin in response to Donald Trump’s tariff slap.
Market participants have been fidgeting over Donald Trump’s Liberation Day impact on the crypto market. However, the much-discussed April 2 reciprocal tariff update has quickly flown by with minimal impact on Bitcoin and altcoins compared to some observers’ anticipations.
As nations react to Trump’s tariff hike, Strategy’s executive chairman, Michael Saylor, took to X (formerly Twitter) to emphasize Bitcoin’s uniqueness amongst other commodities.
“There are no tariffs on Bitcoin,” Saylor stated.
No Tariff on Bitcoin
While tariffs negatively threaten a nation’s broader economy, tangible commodities suffer the most impact. Trump’s tariffs are on all physically imported goods, which he justified were reciprocal to charges from other countries.
Meanwhile, compared to other commodities, Bitcoin’s digital properties have exempted it from the tariff parade. Saylor highlighted the pioneering cryptocurrency’s unique advantage in a tweet today, bluntly reminding his over 4.2 million followers of its enviable properties.
Nonetheless, the development has adversely impacted Bitcoin’s price since its inception, creating a divide among prominent market participants over the premier asset’s position as a store of value. Moreover, market participants argue that higher tariffs would impact the income of retailers and businesses, reducing appetite to invest in Bitcoin and other financial vehicles.
Trump Sets Tariff Baseline at 10%
The pro-Bitcoin president released details of his reciprocal tariff on Wednesday, noting that they would take effect on April 5. He highlighted those of a few countries in a dashboard he carried along while announcing the new importation levy.
Asian countries like China, Japan, Taiwan, and Vietnam, among others, received reciprocal taxes of 34%, 24%, 32%, and 46%, respectively. America did not spare its allies either, brandishing a 10%, 17%, 20%, and 26% tariff on the UK, Israel, the European Union, and India.
Meanwhile, some nations have responded, with China threatening a counter-tariff hike if Trump does not retract his latest importation tax increase. With new developments unfolding, Bitcoin has continued to hold above $80,000.
At the time of writing, the asset trades at $82,089, down barely 1% in the past 24 hours.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
