Trump’s Dollar Disaster: Bitcoin’s Big Break? 🚀

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So, Bitwise’s CIO Matt Hougan drops this investor note, right? And it’s all about how Bitcoin could hit the jackpot if Trump keeps messing with the dollar. 🤑 I mean, who doesn’t love a good currency crisis? The note, dated April 8, 2025, is titled “The Fallout From Trump’s Tariff Push,” which sounds like a bad reality show. But hey, it’s got some juicy stuff about how tariffs and dollar-weakening could make Bitcoin and gold the new cool kids on the block. 🏦➡️💰

According to Hougan, everyone’s freaking out about whether Trump’s tariffs are just a phase or a full-blown midlife crisis for the dollar. 🤷‍♂️ Meanwhile, financial bigwigs like Cliff Asness and Bill Ackman are duking it out on social media, and Anthony Pompliano’s over here like, “Tariffs? Yeah, they’re great!” 🙄

But here’s the kicker: Hougan says the Trump administration wants a weaker dollar, even if it means the dollar loses its crown as the world’s reserve currency. And guess who benefits? Bitcoin, baby! 🚀

Hougan points to this speech by Steve Miran, chairman of the White House’s Council of Economic Advisers, where he blames the dollar’s reserve status for “decimating our manufacturing sector.” 🏭 Oh, and he says it’s kept currency markets “distorted.” Yeah, because nothing says “stable economy” like a distorted currency market. 🙃

Anyway, Hougan thinks a weaker dollar is great news for Bitcoin in the short and long term. In the short term, Bitcoin tends to go up when the dollar goes down. In the long term, he thinks global uncertainty could push people toward multiple stores of value, with Bitcoin leading the pack. 🌍💎

Oh, and remember Bitwise’s end-of-year price prediction? $200,000 for Bitcoin. Hougan’s still sticking to that. 🎯

In a Bloomberg interview, Hougan doubled down, saying that if trade uncertainty and tariffs push the dollar lower, Bitcoin’s the one to watch. “Bitcoin benefits when fiat currencies go lower,” he said. And he called Bitcoin “the hedge against fiat currency debasement.” 🛡️

When asked about Bitcoin’s peak coinciding with Inauguration Day, Hougan pointed out that Bitcoin’s long-term performance has been stellar. “It’s vastly outperformed gold, stocks, bonds… it’s been a phenomenal investment,” he said. 📈

He also mentioned that more institutional investors are jumping into crypto, regulatory attitudes are changing, and “the government now owns Bitcoin.” Wait, what? The government owns Bitcoin? That’s like your mom showing up at your favorite underground club. 🕴️

At press time, BTC was trading at $76,959. 🤑

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2025-04-09 20:20