Americans Turn to Bitcoin as Safe Haven Amid Trump’s Trade War: Report

A growing number of Americans are turning to Bitcoin as a safe haven following market volatility brought on by President Donald Trump’s tariff policies, according to a new study.

The research, conducted by NFTEvening in partnership with Storible via Prolific in late April, found that “a remarkable” 68% of the 1,290 Americans surveyed said they purchased Bitcoin (BTC) following Trump’s tariff announcements made earlier this year. According to the report, that figure is 24% higher than the number of respondents who bought gold.

Additionally, 72% reported putting more funds towards BTC than gold, while 26% said they entered the crypto market for the first time because of the tariffs. Currently, BTC is trading at $103,500, up 67% over the past year, according to CoinGecko.

“This trend underscores a pivotal moment for Bitcoin, positioning it as a modern hedge against economic turmoil,” the report reads. It also highlights Bitcoin’s rising prominence as “a protective financial asset compared to traditional safe havens” such as gold.

Trump’s Tariff Moves

After taking office for the second time on January 20, President Trump announced a series of sweeping tariff policies targeting major trading partners – most notably, China. Other targeted nations included Canada, Mexico, and the European Union (EU).

Some of the proposed policies included a 25% tariff on Canadian and Mexican imports, increased levies on Chinese goods, and blanket tariffs on steel, aluminum, and automobile imports. While some of the tariffs have since been postponed, others went into effect on April 2, a day Trump dubbed “Liberation Day.”

Since then, the US and China have agreed to a 90-day temporary pause in tariffs as discussions continue – while the US 125% tariff on Chinese imports announced April 2 will be reduced to 10%. The US and the United Kingdom (UK) also announced a trade deal on May 8.