Bitcoin has remained largely unmoved so far.
Tensions surrounding Greenland are escalating after several European Union countries deployed military forces to the island under what they described as reconnaissance missions. In response, US President Donald Trump who has repeatedly argued that Greenland must fall under US control announced a new round of tariffs targeting the nations involved.
Posting on Truth Social, Trump said the measures will apply to Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland. Beginning February 1, 2026, all goods imported from these countries into the US will face a 10% tariff. If no agreement is reached by June 1 regarding Greenland’s acquisition, the rate will rise to 25%.
Trump clarified that any deal would require the “full and complete purchase of Greenland,” framing the move as critical to US national security.
Meanwhile, analysts at The Kobeissi Letter warned on X that the tariffs could impact roughly $1.2 trillion in annual trade between the US and the EU. They also estimated that acquiring Greenland could cost the US close to $700 billion. According to the firm, the trade conflict already underway since Trump’s return to office last year has now intensified significantly, with Greenland emerging as a key strategic priority.
Market participants are watching closely, as bitcoin was among the hardest-hit assets during Trump’s initial tariff rollout last year, when BTC plunged from its then-record high of $110,000 to below $75,000 within months.
For now, however, Trump’s latest announcement has had little effect on crypto markets. Bitcoin is trading just above $95,000, showing minimal price movement over the past 24 hours.
