Trump Announces Tariffs As Companies Keep Buying Bitcoins

Bitcoin

BTC

PRICE (14D)

$132,550.00
(-3%)

Ethereum

ETH

PRICE (14D)

$2,902.00
(-10%)

Solana

SOL

PRICE (14D)

$191.00
(-10%)

Prices in AUD and as of 11:30am AEDT on Apr. 3, 2025

Trump Signs Sweeping New Tariffs

U.S. President Donald Trump announced sweeping reciprocal tariffs on nearly 200 U.S. trading partners, setting a 10% baseline tariff on all imports and imposing higher rates on specific countries and the European Union. These tariffs will come into effect within the next week. Additionally, the president announced the U.S. would impose a 25% tariff on all automobile imports, effective immediately.

The crypto market sold off shortly after the news, as did stock markets around the world, including Australia and after-hours markets in the U.S., indicating that the long-anticipated announcement was worse than markets had anticipated.

Companies Keep Buying Bitcoin

Companies continue to accumulate Bitcoin as a reserve asset to hold for the long term. Given that Bitcoin is the only cryptocurrency being bought for this purpose, this trend may partially explain why Bitcoin dominance—which measures BTC’s market cap as a percentage of the combined market cap of all cryptocurrencies—is currently sitting at multi-year highs of 63%.

Below are just some of the companies that have recently announced purchases of Bitcoin or plans to purchase Bitcoin.

• Strategy, formerly MicroStrategy, purchased another 28,959 BTC in the last two weeks of March. The company now holds 528,185 BTC or 2.52% of the total supply.
• Metaplanet, a Bitcoin treasury company listed in Japan, announced its largest Bitcoin purchase to date, buying 696 BTC. With a current total of 4,206 BTC, Metaplanet plans to own 10,000 BTC by year-end and 21,000 BTC by the end of 2026.
• Video game retailer GameStop raised $2.37B ($1.48B USD) to invest in Bitcoin as a reserve asset. If it were to fully deploy this amount today, GameStop would be the world’s fourth-largest publicly traded corporate holder of Bitcoin, as per Bitcoin Magazine.
• Stablecoin issuer Tether purchased 8,888 BTC throughout the first quarter of 2025, bringing its total holdings to 92,647 BTC. Since 2022, the company has accumulated BTC with a portion of its net realised profits.

While this trend has been ongoing for several years, it has accelerated in recent times largely due to Strategy. With the likes of GameStop now entering the fray, it likely won’t be long until aggregate corporate holdings surpass 1,000,000 BTC. At the time of writing, this figure is just short of 690,000 BTC, as per Bitcoin Treasuries.

Larry Fink on Bitcoin & Asset Tokenisation

In his annual letter to investors, Larry Fink, the CEO of BlackRock—the world’s largest asset manager—referred to Bitcoin as an example of an asset that could undermine the U.S. dollar's status as the world's reserve currency. Earlier this year, Fink said he is a “big believer” in Bitcoin, describing its potential value as an international hedge against economic and political instability.

“If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin.”
Larry Fink, CEO of BlackRock

Fink also devoted a section of his letter to explaining the potential benefits of tokenising assets on blockchains and the current challenges. "Every stock, every bond, every fund—every asset—can be tokenised. If they are, it will revolutionise investing," he wrote.