Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Digital Currency Group CEO – Heightened US-China Trade Tensions Is Behind BTC Price Rally

Digital Currency Group CEO – Heightened US-China Trade Tensions Is Behind BTC Price Rally

Kelly Cromley by Kelly Cromley
May 22, 2019
in Bitcoin News, Market News, News
Reading Time: 3 mins read
0

Barry Silbert, CEO and founder of the cryptocurrency company Digital Currency Group, claimed that the latest increase in the price of Bitcoin (BTC) could be related to the trade conflict between China and the United States.

On the recent episode of Fortune’s Balancing The Ledger series Silbert noted this trend.

Silbert said

“It’s certainly interesting that the [Bitcoin] price started its acceleration, moving up and to the right, when the trade discussions broke down.”

Founder of the Digital Currency Group, Barry Silbert, observed how the BTC’s uptrend matched with breaking down of discussions between Beijing and Washington.

As US-China trade negotiations collapsed earlier in May, Bitcoin’s value rose greater than it has all year round.

Market observers predicted that the cryptocurrency, frequently referenced to as digital gold,” gained from the nervousness of shareholders in equity and foreign exchange markets sending down shares and the currency of China.

The crypto proponent said Bitcoin proves to be a secure place for investors at moments of turbulence in the international economy— and quoted other instances where the price of BTC increased as conventional inventory prices took a dip.

Silbert added:

“If you look at over the past five years — when Brexit happened, Bitcoin went up. When Grexit happened, Bitcoin went up.” Bitcoin boosters like Silbert have repeatedly asserted that in muddy financial conditions, the digital coin could offer security

“I think [Bitcoin is] serving as a bit of a non-correlated asset,” Silbert said, meaning an asset that is insulated from the vagaries of the traditional financial system, as “people always expected Bitcoin would be.”

Silbert asks skeptics to look at the lengthy and emerging track record of Bitcoin in moments of trouble. “If you look at over the past five years—when ‘Brexit,” took place, Bitcoin appreciated. Bitcoin again rose when ‘Grexit’ occurred,” he said.

However, there is no doubt that Bitcoin could do better than other popular assets used for hedging risk. For example, gold has been stockpiled by central banks in recent times, says Silbert, an awkward fact for people claiming the precious metal provides refuge from the erratic fiscal moves of governments.

When things get hard, central banks are forced to first dilute their treasuries and gold holdings, Silbert explains. “It doesn’t mean necessarily that the money will move into Bitcoin, but it just means that you don’t have the forced pressure of people selling the Bitcoin” if world economies slowdown.

The study suits Grayscale Investments, a subsidiary of Silbert’s Digital Currency Group, which launched this month, a domestic, multi-million-dollar publicity campaign. In support of Bitcoin, the TV advertisements encourage customers to “drop gold.” Obviously, purchasing Bitcoin in hopes of global impasses and financial mishaps is not a proven safe strategy.

Considering the volatility encountered by the crypto economies over the previous two years, the ceo argues that cases of BTC prices going down has occurred due to macroeconomic factors The trade conflict between the US and China has seen both superpowers impose tit-for-tat duties on the goods of each other, eventually making daily products more costly for customers.

At the beginning of May, Grayscale Investments, one of the affiliates of the Digital Currency Group, initiated an ad campaign encouraging investors to leave the yellow metal and instead adopt Bitcoin.

Finally, Silbert acknowledged that “Ultimately, given the volatility that exists in Bitcoin, I think there are plenty of examples you can find where [the price] went down when those macro events happened as well.”

Previous Post

Mozilla Introduces Anti-Cryptojacking Feature In Firefox Quantum

Next Post

Galaxy Digital Sells its EOS Stake To Block.One For $70mln.

Related Posts

etherscan-unveils-hyperevm-scan

Etherscan Launches HyperEVM Scan to Boost Web3 Transparency

by Kelly Cromley
Jul 8, 2025
0

Etherscan, widely regarded as a leading blockchain data provider for the Ethereum network, has introduced a new dedicated block explorer...

Gunz-expands-native-token-to-solana-blockchain

$GUN Token Joins Solana in Major Blockchain Expansion

by Kelly Cromley
Jul 8, 2025
0

GUNZ, the Layer 1 blockchain ecosystem powering the AAA gaming title Off The Grid (OTG), has revealed plans to expand...

datavault-ai

DataVault AI Acquires SyncIN Tech to Advance Web3 Payments

by Kelly Cromley
Jul 8, 2025
0

DataVault AI Inc. (NASDAQ: DVLT), a technology firm based in Beaverton and currently valued at approximately $52 million, has announced...

tron-partners-with-trump

Tron Moves to Support TRUMP Coin Amid Market Uncertainty

by Kelly Cromley
Jul 8, 2025
0

Tron has disclosed its intention to integrate the TRUMP meme coin onto its blockchain through the LayerZero protocol, in a...

Dubai Land Department Partners with Crypto.com

Dubai Teams Up with Crypto.com to Digitize Real Estate Market

by Kelly Cromley
Jul 7, 2025
0

The Dubai Land Department (DLD) has entered into a strategic agreement with global cryptocurrency firm Crypto.com to establish a digitally...

hyperscale-data

Hyperscale Data to Launch Solana Validator Node in 3Q25

by Kelly Cromley
Jul 7, 2025
0

Hyperscale Data, Inc., listed on the NYSE American under the ticker GPUS, has announced that its fully owned subsidiary, Ault...

Next Post
Galaxy Digital Sells its EOS Stake To Block.One For $70mln.

Galaxy Digital Sells its EOS Stake To Block.One For $70mln.

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

etherscan-unveils-hyperevm-scan
Market News

Etherscan Launches HyperEVM Scan to Boost Web3 Transparency

by Kelly Cromley
Jul 8, 2025
Gunz-expands-native-token-to-solana-blockchain
Market News

$GUN Token Joins Solana in Major Blockchain Expansion

by Kelly Cromley
Jul 8, 2025
datavault-ai
Market News

DataVault AI Acquires SyncIN Tech to Advance Web3 Payments

by Kelly Cromley
Jul 8, 2025
tron-partners-with-trump
Market News

Tron Moves to Support TRUMP Coin Amid Market Uncertainty

by Kelly Cromley
Jul 8, 2025
Dubai Land Department Partners with Crypto.com
Market News

Dubai Teams Up with Crypto.com to Digitize Real Estate Market

by Kelly Cromley
Jul 7, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree