This founder predicts a US vs China war over bitcoin that could decide who would rule the world

Time of India

23-04-2025

Deepak Garg
, founder of logistics unicorn
Rivigo
, believes the world has already entered a new kind of war. But this one won't be fought with tanks. It will be fought with bonds,
gold
, crypto—and influence.
In a sharp, forward-looking post on LinkedIn, Garg predicts that the next 8 to 10 years will be shaped by a brutal global contest between the
United States
and China. 'The next 8–10 years will be like a war;
China
and US will fight each other over who is the ruler of the planet,' he writes. His argument pulls together monetary policy, sovereign debt risks, and the quiet but significant rise of
stablecoins
.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
If You Eat Ginger Everyday for 1 Month This is What Happens
Tips and Tricks
Undo
Gold and stablecoins: the new frontline
Garg points to the recent sharp rise in gold prices as a signal that uncertainty is mounting. 'Inflating up vertically,' is how he describes it. But gold, he argues, is just the first asset responding to the turmoil. The real flashpoint, he suggests, lies in sovereign bond markets.
'Who will buy
US treasury
?' Garg asks, referring to the mounting American debt and the reduced interest from foreign governments in long-term US bonds. His answer? Stablecoins.
Live Events
'US has an elegant, acceptable solution in the form of stablecoins. Stablecoins are the largest UST buyers right now and with the exponential growth of stablecoins, they'd replace sovereigns as the marginal buyers of USTs,' he says.
This, he suggests, is the real reason the US has started embracing cryptocurrencies. 'Crypto adoption promotes stablecoins. That is why US is promoting Crypto. Eventually more stablecoin minting means, more buying of UST and lesser bond yields.'
At the heart of this, Garg argues, is a looming crisis in bond yields. He warns of a situation not unlike India's mortgage rate squeeze. 'Now all this needs to happen fast. The war is already on,' he writes.
Also Read:
Trump may chop China tariffs 'substantially' from 145% in possible trade deal shift, Beijing reacts
Could the US weaponise its gold?
The argument then pivots to what the US might do next. Garg speculates that the American government could revalue its gold reserves—essentially adding a trillion dollars in accounting headroom—and use that to expand its balance sheet or even buy bitcoin.
He even raises the possibility of a new kind of gold-bitcoin balancing act, where the US could strategically sell or hold bitcoin to maintain
global financial superiority
over China.
'US still has 4x the level of Gold China has and the next war may be fought on gold vs bitcoin,' Garg notes. He draws a line through history to bolster his case. 'This is not new – Greek and Roman war was fought on silver vs gold and no prices for guessing gold won. China's last century was a washout because of fascination with silver.'
He ends with a provocative question: 'Could bitcoin win this war and could US weaponise gold reserves to maintain balance sheet superiority?'
Also Read:
Will gold touch ₹1.2 lakh soon? Here is what JP Morgan and Goldman Sachs are predicting about yellow metal prices
Trump hints at tariff climbdown amid tensions
While Garg sees a financial battlefield forming, former US president Donald Trump is walking a finer line on tariffs.
Speaking from the Oval Office on Tuesday, Trump indicated that the historic 145% tariffs on Chinese imports could be temporary. '145% is very high, and it won't be that high,' he said. 'No, it won't be anywhere near that high. It'll come down substantially. But it won't be zero ‒ used to be zero. We were just destroyed. China was taking us for a ride.'
Trump added, 'We're going to be very nice, they're going to be very nice, and we'll see what happens. But ultimately, they have to make a deal because otherwise they're not going to be able to deal in the United States.'
Also Read:
As global markets wobble, Sridhar Vembu explains why India's love for gold might be the country's biggest strength
Behind closed doors, warnings of unsustainability
The shift in tone came shortly after US Treasury Secretary Scott Bessent reportedly told investors that the current US-China trade impasse cannot last. 'No one thinks the current status quo is sustainable,' Bessent told a private
JP Morgan Chase
forum in Washington.
Currently, Chinese imports to the US face tariffs of up to 145%. China has responded with 125% tariffs on US goods. Some sectors—like electronics—are exempt, but others face a blanket 20% levy due to fentanyl-related concerns.
Despite the escalation, no formal talks have begun. Yet according to White House press secretary Karoline Leavitt, the US is laying the groundwork for future negotiations. 'We're setting the stage' for a deal with China, she said, adding that the administration is 'doing very well' on trade and that over 100 countries have shown interest in new bilateral arrangements.
Markets respond with cautious hope
Investors are watching closely. US stock markets jumped over 2% after Bessent's remarks, reflecting optimism that a deal—however distant—might eventually emerge.
But while the markets cheer, analysts remain wary. With geopolitical rivalry intensifying and digital assets entering the fray, the US-China rivalry is morphing into something far more complex than tariffs or trade. It's a currency war, a tech war—and a capital war.