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Investing.com -- MicroStrategy Incorporated (NASDAQ:MSTR) stock closed up 3.9% on Friday, buoyed by the surge in Bitcoin prices amid a broader market downturn. Bitcoin, the world’s largest cryptocurrency, advanced 2%, nearing the $84,000 mark by 4:45 ET.
The rally in Bitcoin came as investors sought safer assets following President Donald Trump’s announcement of sweeping tariffs, which stoked fears of a global recession and led to a sell-off in riskier investments. Trump unveiled a 10% universal tariff on all imported goods, set to take effect on April 5, 2025, and additional reciprocal tariffs targeting countries with significant trade barriers against U.S. products, starting April 9, 2025.
These tariffs are expected to slow global trade, disrupt supply chains, and dampen corporate earnings. The aggressive trade policy has raised the specter of retaliatory measures from affected nations, adding to economic uncertainty. Major U.S. stock indices plummeted on Thursday and Friday.
In contrast, Bitcoin’s resilience amid the chaos has reflected its perceived role as a digital hedge against market volatility. MicroStrategy, known for its substantial Bitcoin holdings, benefited from the cryptocurrency’s performance, as investors turned their attention to alternative stores of value.
The move in MicroStrategy’s stock reflects a broader trend where digital assets are increasingly being considered as potential safe havens during times of economic turmoil. As traditional markets react to the prospect of a more isolationist U.S. trade policy, the appetite for Bitcoin and similar assets may continue to grow.
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