$5K Trump Proposal Ignites Altcoin Hype Amid Warning Signs
US President Donald Trump has proposed a $5,000 'dividend' payment to every adult US citizen if Republicans hold Congress after the midterm elections. This proposal could potentially inject a massive amount of liquidity into the market and even spark an 'insane' altcoin season, according to some analysts.
The estimated cost of this stimulus would be around $1.2 trillion, roughly half the amount spent during the pandemic lockdowns. Mark Chadwick, posting on X, compared the potential effect to the 2021 crypto market and called it a '2021 Covid stim type catalyst' layered onto an already-building bull market.
However, not everyone shares this optimism. Economist Peter Schiff dismissed the plan as an attempt to buy votes, calling it a '$5,000 bribe in exchange for their votes.' He also warned that printing the money would push inflation beyond what's been seen under the Biden administration.