Will Donald Trump Make Bitcoin Great again?

President Donald Trump may inadvertently through his foreign policy, be making Bitcoin, not America, great again. President Trump’s sanctions on third world countries like Turkey and Iran are making these countries turn to cryptocurrencies as a store of value and medium of exchange which in countries like Iran, drove the price of Bitcoin up to nearly $20,000 on the local exchange. Iran is trying to issue its own cryptocurrency backed by its national currency but since no one trusts the national currency, no one is going to have much trust in its cryptocurrency. Therefore, more of its citizens are spending money to acquire Bitcoin as a safe means to store value. Iran’s citizens have purchased roughly $2.5 billion in cryptocurrency and it seems like more will be on the way. While these tariffs and sanctions may not make America Great again, they sure may make Bitcoin great again.

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