BlackRock CEO: Bitcoin Could Replace Dollar as Global Reserve Currency

Transcript

This rogue bunch of people just trying to cut costs left, right and centre.

Let's go. Welcome back, guys. This is Britcoiners. It's episode 164.

Welcome back, gang.

Welcome back, Molly.

Say it very low energy: "Welcome back, everyone."

Thank you. Thank you. Thank you.

Full of energy.

This is the first week in a while we've had a full team.

Mhm.

All been travelling or away somewhere.

Yep. Okay.

Um, agenda this week - we have got:

Kentucky signing a Bitcoin rights bill

GameStop buying Bitcoin

BlackRock and their Bitcoin ETP

Strategy buying more Bitcoin

China, Japan and South Korea and the US tariffs

Trump family investing in new Bitcoin mining

Coinbase and their worst quarter since the FTX collapse

And April the 5th SBF funds

Wow, okay.

Happy World Liberation Day, guys.

Just about to say that.

Yeah, yeah.

What's that?

It's World Liberation Day, Molly.

What does that mean?

Well, the world's getting freed.

Oh - 9:00 p.m. tonight.

Okay, cool. World Liberation.

The world's free, basically. At 9:00 p.m. tonight.

Trump - it's Trump Tariff Day but he's called it World Liberation Day, right? So really we find out today.

Weird though, wasn't it? Markets rallied yesterday.

Uh, they're pretty stagnant right now.

It's been described by Bloomberg as "everyone's holding their breath."

Yeah, they went down a lot yesterday and then went straight back up.

There was a little thing, a little -

You saw that in Bitcoin price as well - little drop and a little pump.

The problem is, no one really knows what's going to happen.

No, neither does Trump.

Yeah, Trump's saying that America have got an unfair tariff system, where all the other countries tariff them more - which, if you look at average tariff, actually does play out.

Um, if you look at American imports - like 3.5% on average - tariff in Europe, 5%, India 17%, China 11%. So he's actually telling the truth.

It's just -

Well, I don't know - averages - you can lie a lot in an average, right?

Yeah, in an average you have - well, you don't lie.

Well, it can be - okay, an average can be very misleading.

Yeah, which I think is probably part of the problem.

So now he's talking about "levelling the playing field."

Yeah, I think we'll see reciprocal tariffs, probably.

Is that unfair though, if he's - I've not looked at the details, so I'm out of the loop on this - but if he's just levelling the playing field?

Well, no - he'll describe it as levelling the field.

It's very hard to level the playing field when they dominate the global trading currency.

Yeah, but if Europe are charging - the playing field's not level - if Europe are charging more and India are charging more than the US is, if the US just comes up to their level - is that not fair?

But it's so granular. If you look at it, there's no such thing as charging more - it's product-by-product basis together. So it's just not a simple copy-paste.

I think short-term, it's going to impact US residents more, right? You know, tariffs on imports on cars and pharmaceuticals and stuff - they're just going to have to end up paying more short-term.

Well, or they don't pay more and the - or the suppliers don't buy as much. The idea being that they use American alternatives and -

Yeah, that's the long-term game plan. But like, then it harms Europe, or whoever - they're trying to sell America some goods.

I mean, we saw this with Brexit though.

Well, I don't think we really saw it with Brexit.

We did.

No - manufacturing shut shop and disappeared.

There's not been UK manufacturing for decades.

And that's why Brexit was meant to try and bring it back.

And it hasn't happened.

I don't know if it has or hasn't happened. You'd have to look at the data.

So we know one that it slowed stuff. I don't think it really changed, but it just slowed stuff down.

It added a layer of bureaucracy to everything.

We know one that's left London and come to the Isle of Man as a manufacturing company - which is nuts, because it almost doesn't align with Brexit in some respects. But you're getting people already exiting, regardless of Brexit, and that's a manufacturing company for a couple of big global brands.

But I think that's more indicative of, like, the actual complex nature of trade deals, right? So the Isle of Man made a deal with that manufacturer to bring them over.

Lots of these tariffs and movements have been changed, manipulated over decades to try - "Actually, we'll help you if you do this, we'll do that." It's all - it's a complex mechanism.

It can't just be a sweeping change. It's probably the wrong way to go about some of these things, I think...