Trump Appoints Musk as 'Secretary of Cost-Cutting'
The meme cryptocurrency Dogecoin's value has surged by a staggering 800% after Trump appointed Elon Musk as the "secretary of cost-cutting." Dogecoin, supported by the Tesla Tycoon, has outpaced Bitcoin, rising from $0.15 to $0.42 in just a few days, coinciding with Trump's election victory.
Global Interest in Dogecoin Peaks
Google searches for Musk's favored cryptocurrency, Dogecoin, reached nearly 700,000, marking a 777% increase compared to the daily average four weeks prior. The surge followed Trump naming Musk as the head of the Department of Government Efficiency, also known as DOGE.
Bitcoin Surges Alongside Trump's Election Win
On the other hand, Bitcoin continues to soar post-Trump's election win, reaching an all-time high of $90,000. The president-elect's promise to make America the "crypto capital of the planet" has fueled the rise, with Bitcoin spiking since the election results.
Musk's Role in Trump's Administration
As the world's richest man, Elon Musk will co-chair the new team alongside prominent Republican Vivek Ramaswamy. Trump's election victory has boosted interest in digital assets, with a mystery mega-investor seeing their fortune swell to $21 billion, potentially ranking them as the 99th richest person globally.
Musk's Influence and Impact
Musk's proximity to Trump has positioned him as one of the most powerful figures globally. With Musk's involvement in Trump's campaign and funding through his political action committee, America PAC, his role as the 'secretary of cost-cutting' signifies a move towards streamlining US federal bureaucracy.
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