Bitcoin (BTC) Stands Poised to "Go Nuclear" as Governments Debase Their Currencies

The trade war initiated by Trump has rattled global markets, and Jack Mallers, the CEO of Strike, posits that bitcoin stands poised to “go nuclear”

Major stock indexes slid on Thursday, with the Dow Jones Industrial Average falling by 2.81% and the S&P 500 declining by 5.04%, continuing a downward trend from Wednesday’s afternoon rally. In the crypto sector, there was a 3.54% retreat, while gold saw an increase of 2.58% over the past 24 hours, reaching $3,164 per ounce by 2:30 p.m. Eastern Time.

In other news, Strike CEO Jack Mallers expressed strong optimism for bitcoin's performance in a recent video. Mallers highlighted bitcoin's ability to decouple from traditional financial markets, which is largely because it’s not linked to earnings like stocks or companies.

Mallers' remarks come as major stock indexes experienced significant drops on Thursday, signaling a continuation of the market downturn. The crypto sector also saw a decline, while gold saw a gain of 2.58% over the past 24 hours, reaching $3,164 per ounce by 2:30 p.m. Eastern Time.

As the U.S. grapples with economic uncertainty and investors search for scarce reserve assets, Mallers suggests that both bitcoin and gold will become increasingly attractive.

"Stay calm, heart of steel, we’re going to be fine," Mallers said, advising bitcoiners to remain composed during market volatility. He emphasized the importance of understanding the nature of what they own.

"Understand what you own. Understand what we’re living through right now. Let the stock market puke and figure itself out."

Mallers criticized Wall Street, describing it as filled with over-leveraged hedge fund managers who panic at minor market downturns and immediately call for bailouts. He contrasts this with President Trump's policies, which Mallers believes are focused on long-term economic recovery and stability.

"Trump means business, whether you like it or not. Trump wants to help the poor American. Trump wants to create factory jobs. Trump wants to produce stuff here. Trump wants to fix the deficit problem."

Mallers believes these policies, along with the need to stimulate the economy, will lead to significant money printing by the government. This debasement of fiat currency, according to Mallers, will be highly beneficial for bitcoin.

"They’re gonna have to print so much money — they’re gonna have to. Bitcoin is really priced with how much fiat currency is sloshing around in the world. And in order for all of this to play out and work, we have to debase our currency, we have to devalue our debt, and we have to create more fiat. It’s gonna send bitcoin nuclear."