- The Bitcoin Price recovered to about $105,000 after a 20% drop below that level.
- JPMorgan publicly revealed a significant investment bet on Bitcoin.
- U.S. president Donald Trump confirmed plans to distribute $2,000 tariff dividends to qualifying Americans.
- Trump’s tariff dividends are expected to come from revenues generated by trade tariffs imposed during his administration.
- There is speculation that the payments could boost bitcoin prices similarly to the Covid-era stimulus checks.
The price of bitcoin has risen to around $105,000 following a 20% decline from its record high below $100,000. This increase occurred alongside revelations from Wall Street firm JPMorgan about a large bitcoin investment. Meanwhile, U.S. president Donald Trump announced that the government will issue at least $2,000 in “tariff dividends” per person, excluding high-income individuals.
Trump confirmed on his Truth Social account that these payments are derived from the revenue collected through his trade tariffs, which brought in roughly $150 billion in the last fiscal year ending September. He also predicted the tariffs could generate more than $1 trillion annually. Trump described opponents of the tariffs as “fools” and emphasized plans to reduce the national debt, currently near $38 trillion.
Analysts from The Kobeissi Letter noted that the announcement coincided with a rise in bitcoin and other cryptocurrency prices. They linked this surge to combined factors such as recent rate cuts, market highs, developments in Artificial Intelligence, and the forthcoming stimulus checks. Former Coindesk editor Pete Rizzo highlighted the potential for these payments to boost bitcoin purchases, stating on X that this could mean “Free bitcoin. It’s coming.”
Another crypto influencer on X compared the current situation with the start of the 2021 cryptocurrency bull run when bitcoin’s price jumped from $3,800 to $69,000 following similar stimulus payments. Trump initially proposed the idea of a $1,000 to $2,000 tariff rebate when interviewed by One America News Network in early October, emphasizing his priority to manage the country’s growing debt.
The planned tariff dividends are seen by some as a return to direct payments from the government to individuals, a strategy that had previously supported bitcoin’s surge during the Covid-19 pandemic. This development comes amid ongoing debates over U.S. fiscal policy and the economic impact of trade tariffs.
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