Friday’s news of new Chinese AND U.S. tariffs – and Donald Trump’s warning that U.S. companies should “consider other alternatives to China” – wreaked havoc on global financial markets, in very rapidly ramping World Currency War I from DefCon 3 to Defcon 2.
It’s impact will be global – ultimately, causing radical alterations of the global political, economic, and monetary landscapes as we have known them for decades; and in the process, likely triggering vicious, competitive fiat currency devaluations.
This, of course, is the best imaginable scenario for Bitcoin adoption, at a time when its $180 billion valuation STILL represents “chump change” relative to the far inferior, $8 trillion gold market (excluding many multiples more of “paper gold”), the $50+ trillion Forex market, $70 trillion equity market, and $100+ billion bond market.
The vast majority of global investors STILL have no clue how Bitcoin works, or the awesome potential it holds – in the best case, to become THE global store-of-value leader. I have been predicting the global currency war since the 2008 crisis – coincidentally, the very event that catalyzed Bitcoin’s invention…and now that it’s here, with Bitcoin back in a bull market, and its network operating at a record hash rate, the potential for a truly explosive move higher has never been higher.