Bitcoin has seen a notable price surge in recent hours, reaching nearly $104,000 for the third time this week. This rise is attributed to a recent commitment by President Donald Trump, who announced that many Americans, excluding those with high incomes, would receive at least $2,000 per person.

BREAKING: President Trump announces that he will be paying a “tariff dividend” of at least $2,000 per person. Stimulus checks are officially back. Tweet

Trump’s announcement arrives after he has defended tariffs imposed during his current presidential term. The U.S. Supreme Court is currently deliberating on the legality of these tariffs, as various experts critique them.

This proposed dividend harkens back to the ‘free money checks’ distributed during the early days of the COVID-19 pandemic, when the government provided checks of $1,200 to individuals affected by temporary business closures.

The crypto community wasted no time speculating that these funds could be funneled into crypto purchases, triggering a flurry of activity in altcoins shortly after Trump’s statement.

As anticipated, Bitcoin’s value surged following these comments, drawing parallels with past events.

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At this moment, Bitcoin’s price has rapidly jumped from just under $102,000 to $104,000, while Ethereum has seen an increase of over 4%, trading above $3,500. Various altcoins such as ZEC and XMR also experienced significant rises.