Trump's $5,000 Checks Could Boost Bitcoin by Billions
US President Donald Trump has reiterated his pledge to send $5,000 checks to every adult American if Republicans maintain control of Congress in the upcoming November elections. Analyst Crypto Rover believes this potential liquidity injection, though uncertain, could funnel billions into Bitcoin and other cryptocurrencies. He estimates that even a small portion of the funds, 5%-10%, could amount to $60 billion to $130 billion flowing into the crypto market.
The initial estimate suggested a $1.7 trillion cost, but revised figures now place it closer to $1.2-$1.3 trillion. Rover argues that today’s crypto market is better equipped to handle retail investments, citing spot ETFs, improved institutional infrastructure, and stronger regulatory frameworks.
However, the plan faces significant hurdles. Some Republicans oppose the proposal due to concerns over increasing the federal deficit and reigniting inflation. Additionally, Congress would need to approve the spending if Republicans win in November. For Rover’s scenario to play out, multiple conditions must align, including GOP victory, congressional approval, and actual distribution of the checks.