Hold Your Horses, BTC Bulls: Bessent Says Trump’s Tariff ‘Dividend’ May Mean Tax Cuts, Not Checks

November 10, 2025 — The crypto market jumped on Sunday as investors cheered President Donald Trump’s announcement of a “tariff dividend” for low-income Americans, sparking speculation about a fresh wave of stimulus checks and a potential bitcoin (BTC) bull run.

Excitement spread quickly across social media, with traders eyeing renewed momentum not only in bitcoin, which traded around $105,079, but also in XRP and DOGE, both of which are often favored during periods of retail-driven rallies.

However, the optimism may have been premature. Treasury Secretary Scott Bessent later clarified that the proposed “dividend” may take the form of indirect tax relief rather than direct cash payments — a distinction that could significantly temper the near-term economic and crypto market impact.

Analysts note that while direct stimulus payments historically injected liquidity into risk assets like crypto, tax cuts tend to have a slower, more diffuse effect. As one observer put it, “This might not be the rocket fuel BTC bulls are hoping for.”