Trump’s Gold Tariffs Push Bitcoin to Near Record Highs
Bitcoin is once again within striking distance of its all-time high, driven by a surge of buying as Trump’s tariffs on physical gold push investors toward the world’s largest cryptocurrency.
Nigel Green, CEO of global financial advisory giant deVere Group, says the policy shift is acting as a powerful catalyst for digital assets, accelerating Bitcoin’s rise as a mainstream store of value.
President Trump’s 39% tariffs on imported gold bars have tightened supply and increased costs, forcing investors to reconsider their reliance on the metal as a hedge.
In July alone, $14.9 billion poured into Bitcoin ETFs, with inflows helping propel prices back toward the record $123,000 level set earlier this summer.
Nigel Green says: “For years, gold has held the mantle of crisis hedge. But when tariffs raise the cost of a physical asset, Bitcoin’s frictionless nature, which is immune to taxes, borders, and policy whims, becomes exponentially more compelling.
“Trump’s gold tariffs didn’t just shift investor behaviour, they turbocharged Bitcoin’s evolution into digital gold.”
ETF demand is setting records. US spot Bitcoin ETFs took in $12.8 billion in July, their strongest month ever.
“Institutional capital doesn’t move lightly, but when a macro shock changes the economics of traditional havens like gold, digital alternatives suddenly look like necessities,” notes the deVere chief executive.
“Bitcoin is benefitting from both clarity in US policy and a growing recognition among institutions that value can—and should—exist outside the constraints of legacy systems.”
The rally is being reinforced by a friendlier regulatory climate. Recent bipartisan measures in Congress, such as the GENIUS Act and the CLARITY Act, have given institutions greater confidence that digital assets will remain an investable and regulated part of the financial system.
Nigel Green sees this as a rare convergence of political and market forces.
“When policy clarity meets geopolitical stressors, markets respond. Trump’s tariffs dialled up gold’s fragility while loosening crypto’s path.
“Bitcoin is redefining its position in global finance, drawing institutional attention not just as an asset, but as part of the modern monetary toolkit.”
With prices hovering near $122,000–$123,000, traders are watching closely for a decisive break to new highs. Strong ETF inflows, robust market liquidity, and macro conditions favouring alternative stores of value have created what some see as the most favourable setup since the 2020–21 bull cycle.
“We’re witnessing a clear rotation,” says Nigel Green.
“If gold—once untouchable—is vulnerable to regulatory shifts, digital alternatives are not just attractive, they’re increasingly inevitable in portfolios.
“Trump’s tariffs have helped rewrite the hierarchy of store-of-value assets.”
He concludes that the shift has structural implications for global finance, from reserve allocation to corporate treasury management.
“The lesson here is that in a world where physical assets can be constrained by politics, digital assets can thrive. “This is a foundational change, not a passing trend.” #Trump’s Gold Tariffs Push Bitcoin to Near Record Highs#
