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CoinDesk Podcast Network

COINDESK DAILY: Will Trump’s "Liberation Day" Tariffs Pump Bitcoin?

Apr 2, 2025
Bitcoin is buzzing ahead of Trump's tariff 'Liberation Day' announcement, with prices surging in anticipation. The podcast dives into how this could reshape the market. Circle, the USDC issuer, is gearing up for an IPO, indicating big moves in the crypto space. Meanwhile, GameStop is making headlines by closing a $1.5 billion offering to buy Bitcoin. These interconnected events illustrate the evolving landscape of cryptocurrency and its reactions to political and corporate shifts.
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Podcast summary created with Snipd AI

Quick takeaways

  • Bitcoin's recent rally is driven by anticipation of Trump's tariff 'Liberation Day' announcement, potentially impacting the cryptocurrency market positively.
  • GameStop's strategic decision to invest $1.5B in Bitcoin signifies its shift towards diversifying its financial profile amidst evolving market trends.

Deep dives

Bitcoin's Recovery Amid Tariff Uncertainty

Bitcoin is experiencing a rally after several days of losses, driven by anticipation of a significant announcement regarding U.S. tariffs by President Donald Trump. The announcement, referred to as 'Liberation Day,' is expected to clarify the approach towards tariffs on 15 countries that have retaliated against the U.S., including major economies like China, Canada, and Mexico. Market insights suggest that a wide-ranging blanket tariff of 20% is less likely, with speculation leaning towards a tiered system based on specific countries or rates. According to Zach Pandell from Grayscale, the potential impact of these tariffs on the cryptocurrency market might already be factored in, indicating that the worst phase could be behind investors in this sector.

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