Elon Musk says the U.S. government has no plans to use Dogecoin
Elon Musk has officially stated that the U.S. government has no plans to use Dogecoin, thereby dismissing speculation surrounding this popular cryptocurrency—long supported by him—related to the Government Efficiency Department (D.O.G.E) he is leading.
"There are no plans for the government to use Dogecoin or any cryptocurrency, as far as I know," Musk stated at an America PAC forum in Green Bay, Wisconsin, on Sunday.
He said that he initially intended to name this initiative "Government Efficiency Committee" but decided to change it to "Government Efficiency Department" after listening to feedback from the public.
"At first, I intended to call it the Government Efficiency Committee, but that name sounded too boring," Musk shared.
According to Musk, this project aims to improve government operational efficiency by 15%. "Essentially, we are simply trying to help the government operate 15% more efficiently," he emphasized.
This initiative to improve governance efficiency was established by President Trump to cut federal spending and optimize operations. Although Musk's involvement has sparked speculation about cryptocurrency-related initiatives, D.O.G.E is actually focused on improving government efficiency, not promoting the use of cryptocurrency.
The misunderstandings stem from the coincidence in the name of the project, reminiscent of Musk's long-standing connection with Dogecoin—a meme cryptocurrency that he has publicly supported multiple times.
The Tesla CEO has long shown a special interest in Dogecoin through posts on Twitter and public statements.
Previously, he defended Dogecoin's inflation model, arguing that it is "a feature" that makes this coin more suitable for everyday transactions.
Disclaimer: This article is for informational purposes only and is not investment advice. We are not responsible for your investment decisions.
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