Bitcoin and major cryptocurrencies extended gains on Monday as traders digested US President Donald Trump’s latest economic proposal for a $2,000 “tariff dividend” for every American, funded by import duties.
The plan, revealed on Truth Social, increased risk appetite, although some questioned its feasibility and potential inflationary fallout.
“A dividend of at least $2000 per person (not including high earners!) will be paid to everyone,” the post said, adding that those opposed to tariffs are “SHEEP!” The rhetoric comes as Washington’s fiscal policy debates heat up ahead of the 2026 budget talks.
Treasury Secretary Scott Bessent said earlier this year that tariff revenue would be used to pay down the national debt, which is now close to $38 trillion, although Trump’s recent comments suggest a populist tilt toward direct cash transfers.
While the proposal is unlikely to materialize without congressional approval, markets are reading it as a new injection of fiscal looseness. The idea of direct household payments, even hypothetical ones, revived the same risk reflex that drove digital assets during the stimulus rounds of the pandemic.
Bitcoin rose 4.6% over 24 hours to $106,440, while Ether rose 6.1% to $3,618, data from CoinGecko shows. XRP led the majors with a daily jump of 8.5% to $2.48 and Solana added 6.1% to $167.96.
The total crypto market capitalization rose to around $3.5 trillion, with around $113 billion in 24-hour volumes in an unusually high number for Sunday trading.
XRP’s market-beating rally came on the heels of Canary Capital’s third pre-effective S-1 amendment to its proposed Canary XRP ETF, which will list on Nasdaq under the ticker XRPC.
The trust will hold XRP in custody at Gemini and BitGo, benchmarked to the CoinDesk XRP CCIXber 60m New York Rate.
Regardless of whether the “tariff dividend” becomes law or just another campaign talking point, traders seem happy to front the liquidity narrative again.
