The world is once again on the brink of economic turbulence. A recession in the US, the likely return of Donald Trump to the White House, a weakening dollar, and heightened geopolitical risks are creating a perfect storm for financial markets. And at the same time, they are giving a new impetus to cryptocurrencies, including Bitcoin.
The world is once again on the brink of economic turbulence. A recession in the US, the likely return of Donald Trump to the White House, a weakening dollar, and heightened geopolitical risks are creating a perfect storm for financial markets. And at the same time, they are giving a new impetus to cryptocurrencies, including Bitcoin.
The digital currency, long considered «digital gold,» is actually reacting to these events not as a defensive asset, but as a sensitive indicator of global nervousness. Quite a few countries in the world have already thought about a new type of state reserve — a crypto reserve: isn’t it time for Ukraine to form its own crypto reserve? We’re figuring it out with Bitget’s COO Vugar Usi Zade.
Donald Trump and his administration, having returned to the White House, are gradually rolling out a new economic course. The focus on tax cuts, increased domestic investment, and protectionism is already affecting financial markets: the dollar is weakening, investors are reviewing their portfolios, and volatility is rising.
For the crypto market, on the contrary, this creates room for growth. On the one hand, Trump was previously skeptical about crypto, on the other hand, his team is now avoiding strict regulations, and some Republicans are in favor of the free circulation of digital assets. The rules of the game are changing, and this may be a chance for crypto to strengthen its position as an alternative financial asset.
The Bitcoin and cryptocurrency market has reached $3.4 trillion this year as Donald Trump’s administration helps prop up Bitcoin’s price with a frenzied crypto bull run.
«July will be an important month,» White House crypto official David Sachs wrote in an X post, adding that he expects «the signing of the bill» on the stablecoin Genius Act and the Crypto Market Clarity Act to «go to the Senate.»
The Genius Act is a major step forward in regulating stablecoins in the U.S. It aims to establish a clear framework to stabilize and regulate the rapidly growing market.
The stablecoin market, dominated by Tether’s USDT and Circle’s USDC, has skyrocketed from almost nothing 10 years ago to $250 billion today, with Wall Street, the world’s largest retailers, and Silicon Valley tech giants all vying to grab their share of this red-hot market.
So the new legislation may further increase investor interest in stablecoins.
The expected recession in the US is another trigger for increased interest in decentralized assets. Fiat currencies are losing credibility, central banks are changing policy courses, and inflation is eating away at cash reserves.
Bitcoin looks attractive in this context: it is limited in emission, not controlled by states, and available anywhere in the world. But at the same time, it is unpredictable, especially against the backdrop of macroeconomic shocks.
Last week, Trump said during a press conference that Bitcoin «takes a lot of pressure off the dollar, and it’s great for our country,» adding that Bitcoin «has become incredible.»
But, most likely, Bitcoin is now not just taking pressure off the dollar, but partially replacing it, as it feels even more stable than the world’s most popular fiat currency.
The US dollar index (USDX, DXY, DX or Dixie), which measures the dollar’s performance against six other major currencies, has seen its biggest six-month decline since the era of free-floating currencies began in the early 1970s, closing near 97, its lowest level since early 2022.
This situation with the once super-stable (and single) state currency forces us to look around and look for new assets that would become a reliable reserve when the economy runs a fever.
While public opinion is mired in debates about ETFs and speculative bubbles, the American state is taking action. A strategic reserve of Bitcoin is being created behind the walls of the Capitol. It is no longer a theory: it is now confirmed. And this revelation is a game-changer.
The Strategic Bitcoin Reserve is a reserve asset funded by confiscated U.S. Treasury bitcoins, the creation of which was announced by President Donald Trump in March 2025.
The United States is the largest known government holder of Bitcoin in the world, holding about 200,000 BTC. That’s the equivalent of $21.5 billion. That’s like one-fourth of Ukraine’s 2025 budget.
It should be noted that it is not only the US that is planning to create a crypto reserve. Other countries are also starting to think about it. For example, the National Bank of Kazakhstan is planning to create a state reserve of cryptocurrencies, according to a report by the government news agency Kazinform. Just like in the States, the crypto reserve will be financed by expropriated digital assets (as well as state crypto mining operations).
The head of the National Bank of Kazakhstan, Timur Suleimenov, acknowledged the volatility and risks associated with crypto assets. He said that transferring the reserve under the control of a centralized institution would ensure proper oversight and risk management.
It should be emphasized that not only confiscated assets can become a source of replenishment of the state crypto reserve. For example, such an Asian country as Bhutan offers a regional perspective. Since 2021, it has been mining bitcoin using hydroelectric power, accumulating a reserve of over $ 1 billion by May 2025. This approach, which arose against the backdrop of the decline of tourism, is now supporting public services and sustainable development goals. India is also considering this scenario.
For Ukrainians, creating a crypto reserve is an idea that comes at the right time: exchange rate risks of the hryvnia, an unpredictable dollar, problems with cash. All this makes us look towards cold wallets and stablecoins. And Ukraine is already on this track.
On June 10, 2025, the Verkhovna Rada registered draft law No. 13356 on the inclusion of virtual assets in gold and foreign exchange reserves. As the co-author of the draft law, Yaroslav Zheleznyak, said, the deputies propose to grant the National Bank the right to include virtual assets in Ukraine’s reserves. However, how, when, and how much will be decided by the regulator itself.
Lawmakers believe that such a step will integrate Ukraine into global financial innovations. And proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy.
Bitcoin is no longer just an asset for the «chosen ones» but part of modern financial reality. Its rate depends not only on stock market sentiment, but also on geopolitics, economics, and technological trends.
And if a new global crisis does occur, cryptocurrencies will become not only an object of speculation, but also one of the few ways to preserve some of your capital.
