Could Trump’s Tariff War Turn Crypto Into a Safe-Haven Asset?

As Donald Trump’s new wave of tariffs hits global headlines, crypto markets are starting to ask a serious question: are digital assets finally being viewed as safe-haven investments?

The former president, widely expected to win the Republican nomination, announced plans this week to reintroduce broad-based tariffs on Chinese imports and hinted at levies against European goods. The response from traditional markets was swift: equities wobbled, treasury yields spiked, and the dollar climbed. But in the crypto world, Bitcoin and a few select tokens began to look oddly calm.

Bitcoin’s price surged past $83,000 earlier this week following Trump’s announcement, a move many analysts believe wasn’t just speculative hype but was flight-to-safety buying.

“Investors are starting to treat Bitcoin like digital gold,” said Clara Rowe, a senior strategist at FinTechBase. “It’s not just retail this time. We’re seeing institutional capital move when geopolitical friction rises.”

Gold, as expected, also rallied, touching $2,470/oz at one point, dragging along Tether’s XAUT token, a digital representation of physical gold, which saw record inflows. But it’s the behaviour of cryptocurrencies that’s causing a stir among economists.

For years, Bitcoin has struggled to shed its "risky asset" label, often crashing alongside tech stocks during downturns. But the current market structure, combined with global tensions and the erosion of faith in fiat currency management, is beginning to shift that narrative.

Ethereum also saw modest inflows this week, despite lagging price action. However, it's not just the big players who benefit; stablecoins like USDC and decentralised finance protocols (DeFi) with exposure to real-world assets have seen a bump in usage.

Still, not everyone is convinced. Skeptics argue that crypto remains too volatile to serve as a genuine haven. Others point out that sharp upward moves in Bitcoin often coincide with speculation, not safety.

But for now, perception is reality, and if enough capital begins to act as though cryptocurrency is a safe haven, the market might actually make it so.

Trump’s next tariff speech is due Monday. Crypto traders will be listening as closely as Wall Street.