Could Bitcoin Be the New Safe Haven Amidst Yuan Decline and Global Economic Uncertainty?

As U.S. tariffs on China fuel currency instability, investors are turning to Bitcoin as a potential safe haven asset. The People’s Bank of China has instructed banks to reduce their purchases of U.S. dollars, further weakening the yuan, leading to its lowest point since 2007. This economic turmoil is casting a shadow over global markets and driving demand for cryptocurrencies like Bitcoin.