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Bitcoin is increasingly being used in international trade, particularly by countries looking to avoid U.S.-controlled financial systems.

The $2 trillion-plus crypto market posted a one-day increase of more than 7% after the president backed away from steep reciprocal tariffs for dozens of countries.

Markets surge as Trump hits pause on tariffs – Bitcoin skyrockets to $82K in dramatic rally.

(Bloomberg) -- Bitcoin surged and most smaller cryptocurrencies gained even more after President Donald Trump surprised markets by saying he would pause so-called reciprocal tariffs on dozens of non-retaliating countries. The largest digital asset jumped as much as 7.7% to $82,967 after beginning Wednesday in the red, while XRP and Solana each increased more than 11%. Ether, the second-biggest token, also turned higher after Trump noted the change on his social media platform.The about-face by T

Under a proposal, certain crypto transactions would be taxed at the country’s standard 18% rate, as well as an extra 5% levy to support the country’s war costs.

The president earlier Wednesday announced a pause in his punitive reciprocal tariffs for all countries except China.

Shares of cryptocurrency-tied companies jumped along with the price of bitcoin Wednesday afternoon after President Donald Trump issued a 90-day pause on widespread "reciprocal" tariffs.