In a recent social media post, Tesla CEO Elon Musk voiced support for former President Donald Trump and the cryptocurrency Dogecoin (DOGE). Musk’s message also highlighted his potential role in Trump’s proposed government efficiency commission if Trump wins the 2024 election.
The post, shared on Musk’s platform X, depicted the billionaire alongside Trump in front of the White House. In a surprising move, Musk linked his support for Trump to Dogecoin, creating a buzz in political and crypto circles. This marks the first time Musk has publicly connected the two subjects.
Trump and Musk collaboration
During a rally in Michigan, Donald Trump revealed plans to appoint Musk as head of a “cost-cutting” commission if re-elected. Trump praised Musk’s ability to save money but acknowledged the Tesla CEO’s busy schedule, joking about his involvement in space exploration. Despite this, Trump emphasized that Musk would take on this role without financial compensation.
pic.twitter.com/PHPAbiYagy
— Elon Musk (@elonmusk) September 28, 2024
Musk’s recent post on X confirms his willingness to lead this initiative. While Musk’s exact role remains speculative, his inclusion in the campaign is seen as a strategic partnership between two high-profile figures.
Dogecoin gains attention
The inclusion of Dogecoin in Musk’s political post was met with surprise and anticipation. Musk has long advocated for the meme-based cryptocurrency, promoting it across various platforms. While Dogecoin experienced a surge in popularity in 2021, recent efforts to revive its rally have fallen short.
Despite its decline from an all-time high of $0.73 in May 2021, Dogecoin has seen some gains in the past month, rising by 22%. Musk’s mention of DOGE in his post led to a marginal increase in its price, which is currently trading at $0.123. However, the coin has decreased by 5% over the past two months.
Digital assets in the 2024 campaign
Digital assets, including cryptocurrencies like Dogecoin, are becoming critical issues in the 2024 U.S. presidential race. Musk’s endorsement of Trump and his connection to Dogecoin have set the stage for the meme coin to play a more significant role in political discussions.
Musk has previously incorporated Dogecoin into his business ventures, including accepting DOGE as payment for select Tesla merchandise and rides on the Las Vegas Loop transit system.
As both Trump and Musk continue to promote their visions for the future, it remains to be seen how Dogecoin will factor into their plans. With growing interest in digital assets, cryptocurrency could be central to political and financial conversations in the months leading up to the election.
The post Elon Musk Backs Donald Trump and Dogecoin in Latest Political Move first appeared on Coinfea.
