From tariffs to Powell’s speech: Will crypto dips and stocks rally?

From tariffs to Powell’s speech: Will crypto dips and stocks rally?

The recovery in global risk sentiment, spurred by US President Donald Trump’s announcement of a 90-day pause on reciprocal tariffs (except for China), brought a much-needed sigh of relief to equity markets. Yet, beneath the surface, there’s a nagging sense that we’re not out of the woods. The bond market’s volatility, surging inflation expectations, and a weakening consumer sentiment all point to deeper uncertainties that could shape the trajectory of the global economy in the weeks and months ahead.

Let’s unpack this week’s developments and what they mean for investors, consumers, and policymakers.

The US equity markets staged an impressive rebound last week, with the Dow Jones Industrial Average climbing five per cent, the S&P 500 gaining 5.7 per cent, and the Nasdaq Composite surging 7.5 per cent. These gains came after a tumultuous period where markets were rattled by fears of an escalating trade war, particularly between the US and China. Trump’s decision to pause tariffs for 90 days on most trading partners, allowing time for negotiations, was a pivotal moment. It signaled a potential de-escalation, at least temporarily, and markets responded with enthusiasm. The CBOE Volatility Index (VIX), often called Wall Street’s “fear gauge,” reflected this shift, dropping to 37 after spiking above 50 earlier in the week. That’s still elevated compared to historical norms, suggesting investors remain on edge, but it’s a far cry from the panic levels seen during the height of the tariff uncertainty.

The bond market told a different story. The selloff in US Treasuries was striking, with the 10-year Treasury yield jumping nine basis points to 4.48 per cent and the two-year yield climbing 12 basis points to 3.97 per cent. This was the largest weekly surge in yields in over two decades, a clear signal that investors are bracing for higher inflation and possibly tighter monetary policy. The ongoing US-China trade war, despite the tariff pause for other nations, continues to stoke fears of supply chain disruptions and rising costs. When goods become more expensive due to tariffs, businesses often pass those costs onto consumers, fueling inflation. The bond market’s reaction suggests that investors are betting on this scenario playing out, even if equities are basking in the tariff reprieve for now.

The US Dollar Index, which measures the greenback against a basket of major currencies, closed lower last week, adding another layer of complexity. A weaker dollar typically supports commodities priced in dollars, and we saw that dynamic play out with gold soaring past US$3,200 per ounce, a two per cent gain for the week. Gold’s rally wasn’t just about a softer dollar—it was also driven by recession fears and the safe-haven demand that kicks in when trade wars escalate. Similarly, Brent crude oil jumped 2.26 per cent to settle at US$65 per barrel, buoyed by comments from US Energy Secretary Chris Wright about potentially ending Iran’s oil exports to pressure the country over its nuclear programme. Geopolitical tensions, layered on top of trade uncertainties, are keeping energy markets volatile, and that’s something I’ll be watching closely in the weeks ahead.

On the economic data front, the picture is sobering. The University of Michigan’s preliminary consumer sentiment index for April plummeted 11 per cent to 50.8, its lowest level since June 2022. This sharp decline reflects growing anxiety among Americans about the economic fallout from tariffs, rising prices, and uncertainty about jobs and growth. Even more concerning is the surge in inflation expectations, with the one-year outlook hitting 6.7 per cent, the highest since 1981. That’s a staggering figure, and it underscores the psychological impact of the trade war rhetoric and policy shifts. When consumers expect prices to keep rising, they may pull back on spending or demand higher wages, both of which can create a feedback loop that drives inflation higher. For the Federal Reserve, this is a nightmare scenario—balancing growth, inflation, and now trade-driven disruptions.

Over the weekend, the Trump administration added a twist by exempting smartphones, computers, and other tech devices from reciprocal tariffs. This move was a relief for markets, particularly in Asia, where tech supply chains are heavily integrated. Asian equity indices traded higher in early sessions today, and US equity futures pointed to a positive open. The exemption makes sense from a consumer perspective—hitting tech products with tariffs would have driven up prices for everyday goods such as iPhones and laptops, risking a backlash. But it also highlights the delicate balancing act the administration is trying to perform: projecting strength on trade while avoiding self-inflicted economic wounds. I suspect this exemption is a pragmatic nod to the reality that tech is the backbone of modern economies, and disrupting it too severely could backfire.

Looking ahead, all eyes will be on Federal Reserve Chair Jerome Powell’s upcoming speech. Investors are desperate for clarity on how the Fed plans to navigate this inflationary environment, especially with consumer sentiment tanking and inflation expectations soaring. Powell has been cagey in recent comments, emphasising that the Fed is monitoring trade policies closely. If he signals a hawkish tilt—perhaps hinting at pausing rate cuts or even tightening policy to combat inflation—it could dampen the equity rally. Conversely, a dovish stance might boost stocks but risks fueling inflation further. It’s a tightrope walk, and Powell’s words will carry immense weight.

China’s first-quarter GDP and monthly activity data, due this week, will also be critical. The trade war with the US is undoubtedly weighing on China’s economy, and weaker-than-expected numbers could reignite fears of a global slowdown. Given that several markets will be closed for Good Friday, trading volumes may be thinner, potentially amplifying any market moves. My sense is that investors are in a wait-and-see mode, parsing every headline for clues about the direction of trade talks and monetary policy.

The cryptocurrency market, meanwhile, has been a mixed bag. Bitcoin slipped more than two per cent on Sunday, trading at US$83,482 during Asian hours. Ethereum fell below US$1,600, and altcoins showed varied performance. The crypto market’s sensitivity to trade policy signals is intriguing—when tariffs on Chinese electronics were floated, digital assets wobbled, likely because of fears that supply chain disruptions could hit mining hardware or broader tech sentiment. Yet, Bitcoin advocate Michael Saylor remains undeterred, using social media to double down on his “Buy the Future” mantra. His latest post, timed with Bitcoin’s brief rally to US$83,246, underscores his belief that cryptocurrencies are a hedge against economic chaos. I’m skeptical about Bitcoin’s role as a reliable safe haven—it’s still too volatile and sentiment-driven—but Saylor’s conviction is a reminder of the passionate community behind it.

Ethereum’s technical picture offers some hope for bulls. After finding support at US$1,449 last week, it’s hovering around US$1,638. A close above US$1,700 could spark a rally toward US$1,861, supported by a Relative Strength Index (RSI) that’s climbing toward neutral territory. But the risk of a drop to US$1,300 looms if support breaks. XRP, meanwhile, is showing resilience, stabilizing at US$2.14 after a 14.28 per cent recovery. A break above US$2.23 could push it toward US$2.50, though it needs to hold above its 200-day EMA to sustain momentum. These technical levels matter for traders, but the bigger driver for crypto will be macro developments—trade policies, Fed signals, and global growth.

As I reflect on this week, my view is one of cautious optimism tempered by realism. The tariff pause and tech exemptions are positive steps, but the underlying tensions—US-China trade frictions, inflation fears, and consumer unease—aren’t going away. Equities may continue to climb if trade talks show progress, but the bond market’s warning signs and weak consumer sentiment suggest fragility. Gold’s strength and crypto’s volatility reflect a market searching for anchors in uncertain times. For investors, diversification and vigilance are key. For policymakers, the challenge is to avoid tipping the economy into recession while addressing legitimate trade concerns.

 

Source: https://e27.co/from-tariffs-to-powells-speech-will-crypto-dips-and-stocks-rally-20250414/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Bitcoin battles, gold soars: How tariffs are reshaping wealth

Bitcoin battles, gold soars: How tariffs are reshaping wealth

The global financial markets are navigating a storm of uncertainty, and as an observer with a front-row seat to this unfolding drama, I find myself both fascinated and apprehensive about the forces at play. The past week has been a rollercoaster, with stocks and bonds caught in a relentless selloff driven by escalating trade tensions that have markets on edge.

The White House’s decision to slap a staggering 145 per cent tariff on Chinese imports has sent shockwaves through global economies, and even the brief reprieve offered by President Trump’s 90-day tariff pause hasn’t been enough to restore confidence. Investors are rattled, and for a good reason—the spectre of a US recession looms large, and the ripple effects could reshape the global economic landscape.

As I unpack the market’s reaction, I see a complex interplay of fear, opportunism, and cautious hope, with assets like gold and Bitcoin reflecting the broader search for stability in a world that feels increasingly unmoored.

Let’s begin with the equity markets, where the mood is unmistakably grim. The MSCI US index plummeted 3.5 per cent on Friday, a sharp decline that underscores the market’s growing unease. Defensive sectors like Consumer Staples and Utilities managed to hold their ground, with the former eking out a modest 0.2 per cent gain and the latter slipping just 0.6 per cent.

These sectors, often seen as safe harbours during turbulent times, are benefiting from investors’ flight to quality. But the broader picture is one of retreat—Asian equities, led by Japan, were down in early trading, and US equity futures signalled another weak open, with a projected 0.5 per cent drop.

The MSCI gauge of Asian stocks is on track for its third consecutive week of losses, a streak that reflects the region’s vulnerability to trade disruptions. China and Hong Kong, which briefly rallied on hopes of fresh stimulus from Beijing, gave back those gains on Friday as reality set in: tariffs of this magnitude could choke off growth, and no amount of stimulus may fully offset the damage.

The bond market, meanwhile, is telling its own story of unease. The US Treasury yield curve has steepened, a sign that investors are bracing for a mix of inflationary pressures and economic slowdown. The 10-year Treasury yield climbed 9.3 basis points to 4.42 per cent, reflecting concerns that tariffs could drive up costs and fuel inflation.

At the same time, the 2-year yield dipped 4.6 basis points to 3.86 per cent, suggesting that markets are pricing in slower growth and potential rate cuts down the line. This steepening curve is a classic signal of uncertainty—investors are torn between the immediate inflationary impact of tariffs and the longer-term risk of a recession.

The bond market’s volatility has been exacerbated by a selloff that some analysts liken to the “dash for cash” seen during the early days of the COVID-19 crisis. Hedge funds, caught off guard by the rapid rise in yields, have been forced to unwind leveraged positions, adding to the market’s fragility.

The US dollar, typically a safe haven in times of crisis, is under pressure, with the dollar index sliding 2.0 per cent. This decline reflects growing concerns about US economic growth, as tariffs threaten to disrupt trade and erode confidence in American assets. Meanwhile, the euro and yen are gaining ground, a sign that investors are seeking non-US alternatives.

The yen, in particular, benefits from its status as a safe-haven currency, while the euro’s strength may reflect Europe’s efforts to present a united front against US trade policies. But let’s not kid ourselves—Europe isn’t immune to the fallout. A 20 per cent US tariff on European goods could hammer exporters, and the STOXX 600’s recent slide suggests that investors are already pricing in pain.

Gold, unsurprisingly, is shining bright amid the chaos. Up 3.0 per cent and pushing toward US$3,250 an ounce, the precious metal is basking in its role as the ultimate safe haven. Investors are piling in, driven by fears of economic instability and the inflationary pressures that tariffs could unleash. Gold’s upward momentum feels relentless, and I can’t help but see it as a barometer of the market’s deepest anxieties.

When even US Treasuries—long considered the bedrock of safety—are being dumped in favour of cash and gold, you know the ground is shifting. Brent crude, on the other hand, is struggling, down 3.3 per cent and hovering just above US$62 per barrel. The combination of tariff-induced demand fears and OPEC+’s decision to ramp up output is keeping oil prices in check, a rare bit of relief for consumers but a headache for energy producers.

Then there’s Bitcoin, which occupies a curious niche in this turbulent landscape. At US$79,474, it’s down 3.5 per cent over the past day and 2.24 per cent over the last month, according to CoinMarketCap. April has been a wild ride for the cryptocurrency, with Trump’s tariff announcements triggering sharp swings.

The initial panic on April 2 sent Bitcoin reeling, as investors fled risk assets. But the pause in tariffs has sparked a tentative recovery, with signs of a corrective bullish wave emerging. The Relative Strength Index is showing early positive divergence, hinting that the selling pressure may be easing. Still, Bitcoin faces a tough road ahead. If it can’t break through the US$84,000 resistance level, it risks stalling out.

But if bullish momentum builds, we could see it test US$96,000. What strikes me about Bitcoin is its dual nature—it’s both a speculative asset and a potential hedge against fiat currency debasement. In a world where tariffs are stoking inflation fears, Bitcoin’s narrative as “digital gold” gains traction, even if its volatility keeps it from being a true safe haven.

As I reflect on these developments, I’m struck by the broader implications of this trade war. Tariffs of this scale—145 per cent on China, 20 per cent on Europe, and a baseline 10 per cent on nearly all US imports—are a gamble with high stakes. The White House argues they’re a tool to protect American industries and level the playing field, but the immediate fallout suggests otherwise. Supply chains are buckling, consumer prices are poised to rise, and corporate earnings are under threat.

The market’s reaction—plunging stocks, surging gold, and a weakening dollar—tells me that investors see more pain ahead than promise. China’s retaliatory tariffs, now at 84 per cent on US goods, signal that this isn’t a one-sided fight. Beijing’s hints at further stimulus may cushion the blow, but they’re unlikely to fully offset the drag of restricted trade.

What worries me most is the potential for a self-fulfilling prophecy. Markets are pricing in a US recession, with some estimates putting the odds as high as 60 per cent. If businesses pull back on investment and consumers tighten their belts, that fear could become reality. The Federal Reserve, already grappling with sticky inflation, faces an impossible choice: cut rates to stimulate growth and risk fuelling inflation, or hold firm and watch the economy sputter.

The bond market’s volatility suggests that investors are losing faith in the Fed’s ability to thread the needle. And while Trump’s tariff pause offers a glimmer of hope, it’s a temporary reprieve at best. Negotiations with over 75 countries are underway, but the threat of renewed levies looms large, especially for China.

On the flip side, there’s an argument to be made that markets are overreacting. The US economy has shown resilience before, and corporate America is adept at adapting to new realities. If tariffs force companies to reshore production, it could spark a manufacturing renaissance, creating jobs and strengthening domestic supply chains.

The pause in tariffs has already triggered massive relief rallies, with the S&P 500 posting its biggest one-day gain since 2008 earlier this week. And let’s not forget that volatility creates opportunities—savvy investors are snapping up beaten-down stocks and positioning for a rebound. Bitcoin, too, could benefit if inflation fears drive demand for alternative assets.

Still, I can’t shake the sense that we’re at a tipping point. The global economy is interconnected, and policies that disrupt trade flows don’t just hurt one nation—they reverberate worldwide. Emerging markets like Vietnam, already reeling from currency devaluations, face a precarious future. Europe’s export-driven economies are bracing for impact, and even Japan, with its safe-haven yen, isn’t immune to the slowdown.

As I look at the data—plunging stock indices, soaring gold, and a bond market in disarray—I see a world grappling with uncertainty. My view is cautiously pessimistic: while markets may find moments of relief, the underlying tensions won’t resolve quickly. Investors should buckle up for a bumpy ride, with safe havens like gold and selective defensives offering the best shelter in this storm.

 

 

 

Source: https://e27.co/bitcoin-battles-gold-soars-how-tariffs-are-reshaping-wealth-20250411/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Trump tariffs shake markets: Why gold soars as Bitcoin stumbles in 2025

Trump tariffs shake markets: Why gold soars as Bitcoin stumbles in 2025

Today’s market wrap offers a fascinating snapshot of a world grappling with shifting risk sentiments, trade tensions, and the evolving dynamics of traditional and alternative assets. Global risk sentiment has shown signs of improvement, with Asian shares rebounding after what was described as their worst day on record. Japan, in particular, has taken the lead in early trading gains, buoyed by optimism that it might receive preferential treatment in trade negotiations with US President Donald Trump’s administration.

Meanwhile, Trump’s unwavering stance on imposing additional tariffs—despite pleas from trading partners—has kept markets on edge, with the S&P 500 teetering on the brink of a bear market. This backdrop of uncertainty, coupled with fluctuating performances in Hong Kong and China amid threats of a 50 per cent tariff hike, paints a complex picture of global finance.

Add to that China’s central bank stepping in to bolster its sovereign fund for local stock purchases, and we’re witnessing a multifaceted tug-of-war between policy, sentiment, and economic fundamentals.

Let’s look into the specifics. The US markets have been a rollercoaster, with the MSCI US index slipping 0.2 per cent after a volatile session. Within that, the Communication Services sector stood out, climbing 1.0 per cent and offering a glimmer of resilience amid the chaos.

Treasury yields, which had recently pulled back sharply, rebounded with the 10-year yield rising 18.9 basis points to 4.18 per cent and the 2-year yield up 11.1 basis points to 3.76 per cent. This uptick suggests a market recalibrating its expectations, perhaps anticipating inflationary pressures or a shift in Federal Reserve policy signals.

The US Dollar index, meanwhile, edged up 0.2 per cent, stabilising after recent losses, while gold took a hit, dropping 1.8 per cent to hover around US$3,000 per ounce. This decline in gold, often seen as a safe-haven asset, could reflect profit-taking or a reaction to rising yields, which typically make non-yielding assets less attractive.

On the energy front, Brent crude fell 2.1 per cent to below US$65 per barrel, weighed down by tariff-related demand concerns and OPEC+ members increasing output—a double whammy for oil prices.

Across the Pacific, Asian equities have mostly climbed in early trading, with Japan’s optimism setting the tone. This bounce-back follows a brutal sell-off, and it’s encouraging to see markets attempting to find their footing. US equity index futures are also signalling a positive start, with an implied opening gain of 1.6 per cent. This suggests that, despite the tariff threats and economic downturn fears, investors are willing to bet on a recovery—at least for now.

But beneath this surface-level resilience lies a deeper story, particularly when we zoom in on two assets that have captured the world’s attention in recent years: gold and bitcoin. From November 2022 to November 2024, these two moved in a relatively tight correlation, with gold rising 67 per cent and bitcoin soaring nearly 400 per cent.

Analysts had long argued that their shared appeal as hedges against weak global currency policies would keep them aligned. Yet, in 2025, that relationship has begun to unravel, with gold up 16 per cent since late March and bitcoin down more than six per cent. What’s driving this divergence, and what does it mean for investors?

Bitcoin’s journey over the past few years has been nothing short of remarkable. Its meteoric rise—peaking above US$109,000 in January 2025—can be traced to a surge in institutional adoption. Heavyweights like BlackRock, VanEck, and Fidelity have deepened their stakes in the cryptocurrency market, lending it a level of legitimacy that was once unthinkable. Countries like El Salvador have gone further, integrating bitcoin into their financial systems, while the US government has floated plans for a strategic crypto reserve, signalling a potential shift in how nations view digital assets.

New financial products have also fuelled this growth. Take, for instance, CME Group’s Bitcoin Friday futures, which offer contracts as small as 1/50th of a coin, lowering the barrier to entry for retail investors. And just yesterday, Cboe Global Markets announced its new Cboe FTSE Bitcoin Index Futures, set to launch on April 28.

These cash-settled contracts, trading under the XBTF ticker, are designed to give traders more precise control over their bitcoin exposure without needing to hold the asset itself. Paired with Cboe’s recent options tied to bitcoin ETFs, these innovations are broadening the toolkit available to investors, reinforcing bitcoin’s staying power.

But the road hasn’t been smooth. Bitcoin faced significant sell pressure earlier today, dipping to US$74,604 before rebounding to above US$79,000. Even with this recovery, it’s down 3.1 per cent in the past 24 hours and nearly 30 per cent from its January peak. Analysts at IT Tech recently highlighted a spike in the Exchange Inflow Coin Days Destroyed (CDD) metric, which tracks the movement of older coins that have been dormant for extended periods.

A surge in CDD often signals that long-term holders are moving their assets to exchanges, potentially to sell. This could reflect profit-taking after bitcoin’s massive run-up or a reaction to broader market uncertainty, including Trump’s tariff threats and fears of an economic slowdown. Whatever the cause, this selling pressure underscores bitcoin’s volatility—a trait that sets it apart from gold, even as both assets vie for the “safe-haven” mantle.

Gold, by contrast, has followed a steadier path in 2025. Its 16 per cent gain since late March reflects a flight to safety amid tariff tensions and rising yields. Unlike bitcoin, gold benefits from its centuries-old reputation as a reliable store of value, especially when economic storm clouds gather. The recent drop to US$3,000 per ounce might suggest some profit-taking, but the broader trend points to sustained demand.

Rising Treasury yields, which typically pressure gold prices, haven’t derailed its upward trajectory, perhaps because investors see tariffs and geopolitical risks as outweighing the yield factor. This resilience highlights a key difference: while bitcoin thrives on institutional momentum and speculative fervour, gold draws strength from its stability and universality.

So, what’s my take on all this? As someone who’s spent years dissecting market trends, I see this divergence as a natural evolution of two assets with overlapping but distinct identities. Bitcoin’s pullback doesn’t diminish its long-term potential; the institutional backing and innovative products like the Cboe FTSE Bitcoin Index Futures suggest it’s here to stay.

But its volatility—exacerbated by tariff fears and profit-taking—reminds us that it’s still a young, dynamic asset prone to sharp swings. Gold, meanwhile, is playing its classic role as a steady hand in turbulent times, bolstered by its tangible nature and historical gravitas. The fraying correlation between the two isn’t a sign of weakness but rather a maturation of the market, where each asset is finding its own lane.

Looking ahead, the global risk sentiment will hinge on how Trump’s tariff policies unfold. Japan’s early gains signal hope for targeted trade deals, but the broader threat of levies on dozens of countries could keep markets jittery. The S&P 500’s flirtation with bear market territory is a red flag, and if economic downturn fears intensify, we could see more wild swings across asset classes. For now, Asian shares are offering a glimmer of optimism, and US futures suggest a willingness to rebound.

But with Brent crude sliding and China’s central bank stepping in, the stakes remain high. My job is to keep digging—tracking the data, questioning the narratives, and piecing together the story as it unfolds. Today’s market wrap is just one chapter in a saga that’s far from over, and I’ll be here, pen in hand, to chronicle what comes next.

 

Source: https://e27.co/trump-tariffs-shake-markets-why-gold-soars-as-bitcoin-stumbles-in-2025-20250408/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j