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BitcoinCultureX- The crypto bear is coming
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Elon Musk and Vivek Ramaswamy, in collaboration with President-elect Donald Trump, launched the D.O.G.E. initiative (Department of Government Efficiency) aimed at reducing federal spending by $500 billion. The plan focuses on cutting discretionary expenses, restructuring workforce policies, and deregulating to eliminate federal waste. However, analysts warn that while savings could reach $50 to $100 billion annually, they will fall short of addressing the projected $1.7 trillion federal deficit in 2024. Major federal contractors, such as Lockheed Martin, Boeing, and Pfizer, face the greatest risks, potentially losing billions from budget cuts. Concerns over D.O.G.E. have already led to declines in their stock prices. Meanwhile, Dogecoin’s value has surged by 150%, fueled by speculation surrounding the initiative. As always, Elon Musk’s moves create a stir in the cryptocurrency market, with investors reacting eagerly. Nevertheless, Congress retains significant authority over whether this ambitious plan can move forward.#BitcoinCultureX #Dogecoin
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