Elon Musk and Trump: What's Going On?
No, we are not talking about cryptocurrency with a dog, but about the new $DOGE — Department of Government Efficiency.
Donald Trump has officially announced that this department will be headed by Elon Musk (the largest holder of $DOGE) and former presidential candidate Vivek Ramaswamy.
➡️ Their mission? To cut over-regulation, reduce wasteful spending, and reorganize federal agencies.
With the US national debt growing, now exceeding $36 trillion, the new administration is looking to make radical changes.
➡️ Musk is getting richer, the market is growing
Trump's victory brought Elon Musk more than $20 billion in just one day thanks to the growth of Tesla shares (+7.5%).
And the US stock market added $1.28 trillion yesterday, all because of Trump's promises to cut corporate taxes.
But it's not just stock markets that are on the rise.
The new president aims to appoint crypto enthusiasts to key positions at federal agencies such as the SEC and CFTC.
The main goal is to turn the USA into the world's crypto capital.
➡️ Who will manage the finances?
The leading candidate for Treasury Secretary is billionaire hedge fund investor Scott Bessent.
An active supporter of Bitcoin, he openly states:
"Cryptocurrency is freedom. It fits perfectly with the values of the Republican Party."
Bessent emphasizes that Bitcoin has become a key tool for engaging young people and those previously excluded from markets:
“Creating a market culture where people believe in the system is the basis of capitalism.”
➡️ What does this mean for crypto?
With this approach, the new cabinet not only supports cryptocurrencies, but also seeks to create conditions where the crypto economy will become the basis of the US financial system.
Are we expecting new records for BTC and other assets? Quite possibly.
We are following the developments, because it is just beginning!!!
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