Bitcoin surged to $83,920 on April 11, 2025, a 5.7% jump in 24 hours, inching toward $84,000 as global markets braced for a trade war fueled by U.S. President Donald Trump’s aggressive tariff plans. Trump’s re-elected administration confirmed 25% duties on $200 billion in Chinese imports—electronics, steel, and EVs—effective April 15, with a 10% blanket tariff on other nations looming.
Investors, rattled by China’s retaliatory 125% tariffs on U.S. agriculture and Canada’s threat of border levies, poured into Bitcoin as a safe-haven asset, pushing its market cap past $1.6 trillion. Crypto exchanges like Binance reported a 20% spike in trading volume, with 60% of buys from North American and Asian users.
The rally builds on Bitcoin’s 2024 momentum, up 90% year-to-date, fueled by ETF approvals and institutional adoption—BlackRock’s IBIT fund alone holds $30 billion in BTC. Analysts like Lagos-based Tunde Adebayo see Trump’s policies as a double-edged sword: “Tariffs disrupt supply chains, so Bitcoin thrives as a hedge, but inflation could crash risk assets.”
Skeptics, including economist Ngozi Okonjo-Iweala, warn of a bubble, noting Bitcoin’s 2018 crash from $69,000. Supporters counter that its 21 million supply cap ensures scarcity, unlike fiat currencies facing 7% global inflation. As Trump’s inauguration nears, Bitcoin’s climb reflects a world on edge, with Nigeria’s 22 million crypto users watching closely, torn between opportunity and uncertainty.