Bitcoin trims losses after Mexico says tariffs will be paused [Video]

Bitcoin trimmed earlier losses, topping $100,000 as the risk move improved, after the U.S. agreed to pause tariffs on goods from Mexico for one month.

The price of bitcoin was last higher by more than 3% at $101,241.37, according to Coin Metrics. Earlier, it fell as low as $91,212.63 in a risk-off move after President Donald Trump hit Mexico, Canada and China with long-threatened import tariffs over the weekend. It traded above $102,000 on Friday.

Shares of Coinbase were down 2%, while MicroStrategy gained 3%.

“Bitcoin holding up better than the rest of the market reinforces its position as the safest bet in crypto,” said Ben Kurland, CEO at crypto research platform DYOR. “When panic sets in, liquidity flows to bitcoin over riskier assets, proving once again that it’s the industry’s reserve asset.”

On Monday Trump also signed an executive order outlining plans for a government-run sovereign wealthfund that would serve as an economic development tool. Though the order didn’t mention …