Elon Musk and Allies Leverage Trump Ties to Push Dogecoin And Cryptocurrency Agenda

elon musk dogecoin

By Ben Emos & Don Terry | Friday, January 10, 2025 | 4 min read

It all starts with something as unassuming as a photo of a dog—a Shiba Inu, to be precise. But this isn’t just any dog. It’s the mascot of Dogecoin, a cryptocurrency born out of internet humor and memes. What began as a tongue-in-cheek alternative to the seriousness of Bitcoin has since ballooned into a global phenomenon, trading over $3 billion daily.

Why does this matter? Because Dogecoin isn’t just a quirky meme-turned-currency anymore. It’s deeply tied to one of the world’s most influential figures: Elon Musk. The billionaire tech mogul not only owns significant amounts of Dogecoin but also uses his immense platforms to sway its value—sending it skyrocketing or plummeting with a single tweet.

Now, promoting something you own isn’t a crime. It’s a strategy as old as business itself. But Musk appears to be taking things a step further, blending financial ambition with political influence in ways that raise eyebrows.

Musk’s DOGE Agenda

In an unusual twist, Musk has reportedly been working alongside members of former President Trump’s inner circle to advocate for government support of Dogecoin. The effort is tied to a private advisory group Musk helped brand as the Department of Government Efficiency—or, conveniently, DOGE.

The acronym isn’t just clever branding; it’s a deliberate nod to the cryptocurrency Musk stands to profit from. While private advisory groups to the government are nothing new, their purpose has traditionally been to serve public interests—whether tackling debt reduction or advancing science and technology. But this DOGE group seems different, with its bias toward promoting Musk’s financial interests under the guise of improving government efficiency.

The federal government already has established systems, like the Budget Accountability Office, to oversee spending and identify inefficiencies. The DOGE group, lacking any real authority to implement cuts or reorganize federal agencies, is limited to making recommendations. Yet its very existence—and the media attention it generates—boosts Dogecoin’s profile every time the name is mentioned.

A Pattern of Promotion

Musk’s involvement in Dogecoin is part of a larger pattern. Whether it’s his leadership at Tesla, SpaceX, or Twitter (now called X), Musk often combines self-promotion with financial gain. His promises of sweeping societal change—like free speech reforms on X or colonizing Mars—often fall short of his ambitious timelines.

Moreover, Musk’s companies have benefited from billions in federal subsidies over the years. Tesla alone received substantial government funding to support its clean energy initiatives. Yet Musk now champions a narrative of cutting government spending—except, it seems, when those cuts might impact his interests.

Misplaced Priorities

Musk’s call to reduce “wasteful government spending” isn’t unique. It echoes a broader political strategy that frames federal spending as bloated and inefficient. However, this argument conveniently ignores that the vast majority of federal expenditures go toward essential programs like Social Security, Medicare, and defense.

Reducing federal spending isn’t as simple as eliminating a few bureaucratic positions or tweaking some programs. With the federal budget representing 20% of the U.S. economy, sweeping cuts would require difficult—and politically risky—decisions about healthcare, military funding, or benefits for retirees.

Yet, such nuance is often lost in the rhetoric of so-called “efficiency.” Instead, the public is sold an oversimplified narrative that reducing government waste is just like tightening a household budget.

A Stunt or a Strategy?

Musk’s DOGE initiative appears to be more about publicity than practical governance. By positioning himself as an outsider disrupting inefficient systems, Musk bolsters his public image while advancing his personal financial interests.

If Musk held an official government role, many of his actions would likely be considered unethical or even illegal due to conflicts of interest. But as a private citizen leveraging informal influence, he operates in murkier territory.

Tactical X Abs Stimulators
Tactical X Abs Stimulators

While Elon Musk’s contributions to technology and innovation are undeniably transformative, his growing entanglement in political influence raises pressing questions about motives and accountability. Are initiatives like the DOGE group genuinely focused on improving government efficiency, or are they thinly veiled attempts to merge personal financial gain with public policy?

Adding another layer of intrigue is the involvement of former President Donald Trump and his family. Reports suggest Trump has pivoted from his hallmark real estate ventures to exploring opportunities in cryptocurrency, sparking speculation about whether he too stands to benefit from the DOGE agenda. This shift raises concerns about the extent to which the DOGE group might serve as a vehicle not just for Musk’s interests, but also for Trump’s financial ambitions.

If true, this dynamic could suggest a troubling alliance between Musk and Trump, leveraging political influence to further personal and financial gains under the guise of innovation and government reform. It’s a scenario that underscores the need for transparency and accountability, particularly when public trust and economic stability are at stake.

In the end, this story of a dog mascot, cryptocurrency, and political maneuvering isn’t just about Musk. It’s a broader reflection of how power, money, and influence intersect—and what that means for the rest of us.

Copyright 2024 FN, NewsRoom.

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