30s Summary

The possibility of Trump imposing hefty tariffs on Mexico is causing the value of Bitcoin to surge, especially against the Mexican peso. The value of Bitcoin increased by over 7% during Asian trading hours, reaching an all-time record. This rise was higher in terms of Mexican peso, at almost a 10% increase. While Bitcoin is experiencing growth, interest in gold as a safe-haven asset is decreasing, partly due to fears of rising inflation caused by Trump’s proposed tariffs. Bitcoin’s value is also being bolstered due to the growing US fiscal debt.

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So, here’s the scoop. The chance of Trump winning is causing Bitcoin to skyrocket, especially when it comes to the Mexican peso. This is because Trump has previously said he could slap tariffs of up to 100% on Mexico. That’s hitting their currency hard, hence boosting Bitcoin.

Interestingly, gold isn’t really moving despite all of this because folks are nervous that Trump’s tariffs could hike up inflation. Oddly, this is making the US dollar look more appealing, while interest in safe-haven assets like gold is declining.

Now, onto the numbers. The value of Bitcoin during Asia’s trading hours bumped up over 7%, setting records above $74,000. That’s a pretty sweet deal! And it gets even better in Mexican peso terms – we’re looking at almost a 10% rise compared to the dollar. Why? Well, the peso seems to be losing value as fears grow about Trump’s potential protectionist policies.

What are these policies, you ask? Well, Trump has been pretty vocal about his game plan. He’s hinted at imposing a 25% tariff on Mexican imports. If that doesn’t work, he’s said he’ll make it 50%, and then 75%. And eventually, if need be, he’s even threatened to go as high as a 100% tariff. Talk about a hard negotiating tactic.

To top it off, Trump has also talked about renegotiating the United States-Mexico-Canada Agreement (USMCA). All of these potential changes have got the peso, and a lot of us, pretty worried.

In the midst of all this, Bitcoin is sitting pretty. Both Bitcoin and gold are expected to continue their upward march thanks to the US’s growing fiscal debt. So far this year, Bitcoin has shot up 75%, totally outpacing gold’s 32% rise. Let’s see how this one plays out!