‘Buckle Up’—Crypto Braced For ‘Stimulus Check’ Price Shock As Trump Suddenly Sends Bitcoin Higher
Bitcoin has surged higher following its 20% plummet from its all-time high to under $100,000 (helped by Wall Street giant JPMorgan revealing a major bitcoin bet).
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The bitcoin price has climbed to around $105,000 despite a nightmare scenario for the bitcoin price suddenly starting to come true that could spell disaster for the stock market.
Bitcoin’s rally comes as U.S. president Donald Trump promises a “tariff dividend” of at least $2,000 per person that’s been described as a “stimulus check”—something that helped power the Covid-era bitcoin boom.
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"A dividend of at least $2,000 a person (not including high income people!) will be paid to everyone," Trump posted to his Truth Social account, adding those against his controversial trade tariffs are “fools” and the U.S. is are taking in “trillions of dollars and will soon begin paying down our enormous” $37 trillion debt.
The prospect of the U.S. government returning to sending payments directly to people has sparked speculation it could boost the bitcoin price and crypto market in the same way the Covid-era stimulus checks did.
"Crypto surges after President Trump announces $2,000 tariff "dividends" to be paid out to Americans," analysts with the The Kobeissi Letter posted to X alongside a screenshot of bitcoin and crypto prices rising. “Rate cuts + record highs + AI + stimulus checks. Buckle up.”
“‘Like’ if you’ll be buying bitcoin with your $2,000 Trump tariff stimulus,” Pete Rizzo, the former editor of Coindesk and a self proclaimed “bitcoin historian,” posted to X, adding: "Free bitcoin. It’s coming."
“Last time this happened, it started the 2021 crypto bull run where bitcoin pumped from $3,800 to $69,000,” another crypto influencer posted to X.
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Forbes‘This Is Crazy’—Elon Musk Issues Serious $38 Trillion U.S. ‘Bankruptcy’ Warning Amid Growing Bitcoin Price Crash FearsBy Billy BambroughTrump’s confirmation of the tariff dividend comes after he floated the idea of giving out checks of up to $2,000 in rebates derived from the revenues his tariff agenda has generated in early October.
"We’re thinking maybe $1,000 to $2,000, it would be great," Trump toldOne America News Network, adding his "number one" priority is “paying down debt, because people have allowed the debt to go crazy."
The U.S. debt pile has surged to almost $38 trillion this year, as a combination of huge Covid-era spending and higher interest rates contribute to what some fear could become a "crisis" for the U.S. dollar.
Trump’s global trade tariffs, which are facing legal challenges, earned the U.S. around $150 billion in the fiscal year that ended in September, according to Treasury Department data.
However, Trump said he expects tariffs to bring in over $1 trillion every year.
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