Saxo Bank: Trump's tariff policy may drive the cryptocurrency market size to exceed $1 trillion

ChainCatcher news, according to Jinshi Data, Saxo Bank strategist John Hardy stated that if the trade tariffs proposed by U.S. President Trump lead other countries to seek alternatives to the dollar, the cryptocurrency market and gold may benefit.

Tariffs will have a terrible impact on global trade as they will cut off the necessary supply of dollars, and BRICS countries may trade using means such as gold-backed digital currencies.

Cryptocurrency stablecoins linked to gold may also be used, and the crypto market could quadruple, reaching over $10 trillion, while the dollar may depreciate by 20% against major currencies and by 30% relative to gold.