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Donald Trump’s pledge to pay a $5,000 dividend to all U.S. citizens if Republicans win both the House and Senate in the upcoming midterm elections could drive further gains in Bitcoin, Ethereum and XRP, CoinGape analyzed.
The outlet said large-scale capital injections tend to fuel risk appetite and debasement trades aimed at hedging against currency weakness. It added Bitcoin rose during similar stimulus-style liquidity waves in 2020 and 2021 and after the announcement of a $2,000 tariff dividend last year.
CoinGape also said some market participants believe the dividend could be paid in stablecoins given the scale of the funds involved. The outlet added Trump previously used World Liberty Financial’s USD1 stablecoin to pay guarantees to UFC fighters during the White House Fight Night event.