CoinVoice has recently learned that according to Jinshi Data, Saxo Bank strategist John Hardy said that if the trade tariffs proposed by US President-elect Trump prompt other countries to look for alternatives to the US dollar, the cryptocurrency market and gold may benefit.
Tariffs would have a dire impact on global trade by cutting off the supply of needed dollars, and the BRICS countries could potentially use methods such as gold-backed digital currencies to conduct transactions.
Crypto stablecoins pegged to gold may also be used, the crypto market may quadruple to over $10 trillion, while the dollar may depreciate by 20% against major currencies and 30% against gold. [Original link]
