Cryptocurrencies
Bitcoin Outshines Gold, Tech Stocks in April Amid Tariff Turmoil
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Bitcoin has surged past gold and tech stocks alike in April, rekindling the debate over whether the largest cryptocurrency serves as a refuge from market turmoil such as the strife triggered by sweeping US tariffs.
President Donald Trump’s announcement of reciprocal tariffs on April 2 — what he referred to as “Liberation Day” — sent shockwaves across global markets. The Nasdaq Composite is down 0.2% since the day before, while the Bloomberg Dollar Index slipped around 4%. Gold, a go-to refuge in periods of uncertainty, rallied to a record high of $3,500 an ounce before paring some gains, to return 6.1%.