Prepare for Impact—Global Bitcoin ‘Race’ Sparks as Price Awaits ‘Significant’ Update from Trump

President Donald Trump has informed Elon Musk of his support for the proposal of a doge dividend … [+] that could result in $5,000 being distributed to U.S. taxpayers, which may cause Bitcoin prices to soar.

The price of Bitcoin has surged towards the $100,000 mark, recovering from a recent dip to $90,000, in a development that some analysts believe could be a warning sign for the stock market.

Recently, Elon Musk was presented with a proposal for a Bitcoin “fix” regarding the U.S. gold reserves. Musk has also revealed that former President Donald Trump likes the idea of issuing “Doge dividend” checks to taxpayers, which could potentially drive up the price of Bitcoin.

Sign up for the free CryptoCodex—A daily newsletter for traders, investors, and the crypto-curious, breaking down the latest news and offering concise analysis to help you stay ahead in the Bitcoin and crypto market rally

Forbes ‘Prepare for Impact’—Global Bitcoin ‘Race’ Sparks as Price Awaits ‘Significant’ Update from Trump By Billy Bambrough

President Donald Trump has told Elon Musk he likes the proposal for a doge dividend … [+] that would see $5,000 paid to U.S. taxpayers, potentially boosting the price of Bitcoin.

Musk, who heads up the Conservative Political Action Conference (CPAC) Doge department, told the event, “I spoke with the president, and he supports [the idea].”

He added, “It seems like this is something we’re planning on doing.” Trump said earlier this week he was considering a “new concept” where 20% of the Doge savings would go to Americans and 20% to the national debt.

After Trump returned to the White House, Musk came up with the idea of doge dividend checks to taxpayers, following a proposal by investor James Fishback on X. Fishback suggested, “President Trump and Elon Musk should announce a ‘doge dividend’ – a tax refund to every taxpayer paid for entirely by the total savings generated through doge,” which would pay households $5,000 if doge achieves its goal of cutting $2 trillion from government spending.”

“If you had invested your $1,200 stimulus check in Bitcoin on April 15, 2020, it would be valued at about $17,315 today, February 20, 2025,” YouTuber Ryan Matta said on X. “What will you do with your initial $5,000 Doge check?”

In 2020 and 2021, government stimulus checks helped inflate the U.S. debt and propel inflation to multi-decade highs, with many using the funds to invest in Bitcoin and other cryptocurrencies that surged to record highs. However, the potential impact of doge checks—or a doge dividend—on the price of Bitcoin and the broader crypto market may not mirror the effects seen with the 2020 stimulus checks.

Get the CryptoCodex—A free daily newsletter for those curious about crypto

Forbes $100 Billion Satoshi Nakamoto Bitcoin Wallet Price Alert as Enigma Deepens By Billy Bambrough

Bitcoin has continued its ascent, moving closer to the $100,000 mark as Elon Musk and … [+] Donald Trump discuss the implications of doge dividend checks.

According to Mati Greenspan, CEO of Quantum Economics, “The market dynamics are now very different from the last round of government stimulus checks.”

“Before the hyperinflation, many people were financially comfortable, and any extra cash was disposable income, prompting them to put it into Bitcoin as a hedge against the coming inflation. Now, many are struggling to make ends meet, and any extra income will go towards covering monthly expenses and buying essentials,” said Greenspan.

While Greenspan expects some recipients to put their doge checks into Bitcoin or other cryptocurrencies, he noted that the entry of institutional investment in the cryptocurrency market in recent years would likely minimize such contributions.

“Some will certainly invest it or even gamble it away, but it’s unlikely to be enough to move the market in a market increasingly driven by large institutional capital,” said Greenspan, adding he would rather put his doge dividend into dogecoin—the meme coin that inspired Musk’s government efficiency department.

“Personally, if I get a doge check, I’m putting it into dogecoin—the only meme coin that’s made it into the U.S. government and is having a positive impact.”