Scottie Pippen, who is widely considered to be one of the greatest basketball players of all time, has taken to social media to highlight the advantages of crypto amid the global tariff-induced economic turmoil.
"There are no tariffs on greatness…Crypto moves free," Pippen said.
The NBA legend mentioned several cryptocurrencies in his post, including Ripple-linked XRP, Cardano (ADA) and Chainlink (LINK).
Pippen's post echoes the comment made by Strategy cofounder Michael Saylor, who recently noted that there were no tariffs on Bitcoin. The tariff disputes showcase the advantages of borderless decentralized cryptocurrencies.
Hunter Horsley, CEO at Bitwise Invest, has also commented that there was a 0% tariff on crypto.
Impact of tariffs on crypto market
The U.S. stock market got absolutely crushed on Wednesday, with the S&P 500 plunging by nearly 5%. Of the 11,406 trading days since January 1980, the flagship stock market index had larger declines only for 29 of them.
Yuri MolchanStoxx 600, a widely tracked index of European stocks, has extended its weekly drop to more than 4%.
However, Bitcoin managed to hold up relatively well, remaining above the $81,000 level. The cryptocurrency is currently trading at $83,459.
Still, the cryptocurrency sold off on the tariff announcement, together with other risk assets. According to CryptoQuant, investors rushed to exchanges, with Coinbase recording massive flows of coins.
As reported by U.Today, Saylor claims that such a correlation of "digital gold" with tech stocks is only temporary due to the cryptocurrency's high liquidity and accessibility.
Vladislav Sopov
Dan Burgin