By CCN: U.S. President Donald Trump announced a trade war with China Friday, hiking tariffs on $200 billion worth of Chinese exports from 10% to 25%. On the same day, the bitcoin price extended its uptrend after jumping above $6,000. The two events did not share anything except a date. But, according to Ed van der Walt, they probably had an interesting connection. The Bloomberg reporter theorized that investors were using bitcoin as “trade-war play,” stating that President Trump’s decision to increase tariffs on Chinese imported goods could create geographic price arbitrage. Walt envisioned whether or not smugglers, the ones
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