Chart of the Week: Tariff Chaos Propels Bitcoin Closer to Its ‘Store of Value’ Potential

April has been a month defined by market chaos, with traders contending with extreme volatility, conflicting news reports, and uncertainty surrounding asset choices amid ongoing global events.

From President Donald Trump’s controversial tariff policies to confusion about where to park capital safely, the market has experienced a whirlwind of challenges. In this tumultuous landscape, traditional safe-haven assets like gold and the Swiss Franc failed to provide the refuge many expected. However, an unexpected player emerged: bitcoin.

“Typically, assets like cash (the US dollar), U.S. Treasuries, gold, and the Swiss Franc have served as reliable safe havens, but bitcoin is increasingly joining these ranks,” NYDIG Research stated in a recent analysis.

According to NYDIG’s findings, while gold and the Swiss Franc have long been favored during times of market stress, bitcoin began to show its value as a safe haven on April 2, when President Trump announced a series of sweeping tariff hikes, triggering heightened volatility. Since then, bitcoin has increasingly taken its place alongside traditional assets as a refuge.

“Instead of behaving like a risky, leveraged version of equities, bitcoin has proven to be a resilient non-sovereign store of value,” said NYDIG.

As the trend of ‘selling America’ accelerates, bitcoin is emerging as a notable contender for those seeking stability outside traditional state-backed assets.

“Though the connection remains developing, bitcoin seems to be delivering on its original promise as a store of value—one that thrives precisely in times of geopolitical uncertainty and financial turmoil,” the report concluded.