My very reductionist hot take:

This is when BTC truly becomes global digital gold.

Higher tariffs (or even the threat of them) lead to increased isolationism and self-reliance for all countries. This means countries which used to rely heavily on US now have to invest in their own economies.

Each of these governments must now increase deficit spending to fund these initiatives. Money printing across the globe in order to fuel it. And what does the avg person buy when their local currency is inflating?

Adjacent to this, countries used to rely on USD as relatively credibly neutral reserves. But with bidens freezing of Russian assets and now these tariffs, the US has effectively flipped its stance on the triffin dilemma, and has lost credibility towards being the global reserve.

But what else would the world use? BRICs doesn't sound too neutral to me. As the world becomes more isolationist, the two options that the globe will demand are gold, and our favorite, BTC.

I think this current turmoil will increasingly drive demand for BTC as a global reserve asset, one that countries and individuals alike will see as a safe haven.