Trump's $5K Stimulus Plan Ignites Frenzied Altcoin Speculation
President Donald Trump's proposal to give each adult US citizen $5,000 as a 'dividend' payment has caught the attention of crypto traders. The estimated cost of this stimulus would be around $1.2 trillion, a figure that dwarfs the $4 trillion in fiscal support deployed during the pandemic lockdown.
Crypto analyst Mark Chadwick believes that if Trump's proposal becomes reality, it could ignite an 'insane' altcoin season. He drew parallels with the 2021 crypto market and compared the potential effect to a '2021 Covid stim type catalyst' layered onto a bull market he already sees building.
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 well past anything seen under the Biden administration.