Saxo Bank strategist John Hardy said that if the proposed trade tariffs by US President-elect Trump prompt other countries to look for alternatives to the US dollar, the cryptocurrency market and gold could benefit. Tariffs would have a dire impact on global trade as it would cut off the needed supply of dollars. BRICS countries could use gold-backed digital currencies for transactions, among other things. Cryptostablecoins pegged to gold could also be used. Crypto markets could quadruple to more than $10 trillion, while the dollar could lose 20% against major currencies and 30% against gold. (Gold Ten)