Trump launches 'campaign to reform' America, DOGE declares war on losses, prepares perfect gift for Independence Day

President-elect Donald Trump has just officially announced the Department of Government Efficiency headed by billionaire Elon Musk, the price of cryptocurrency - DOGE immediately increased 120% in a week.

Trump announces 'campaign to reform' America, DOGE is tough on waste, preparing the perfect gift. (Source: Linkedin)

Bitcoin’s surge to new highs has been the talk of the crypto world these days, but it’s not the only digital asset that’s causing excitement and buzz. Bitcoin’s gains pale in comparison to Dogecoin (DOGE), which has surged 120% in the past week, and could continue to rise in the near future.

What is DOGE and why is it rising so much? as observers say DOGE is up thanks to a little bit of support from President-elect Donald Trump and X owner Elon Musk.

“I am pleased to announce that the great Elon Musk, along with entrepreneur Vivek Ramaswamy, will be co-leading the Department of Government Efficiency (DOGE), a recent statement by Mr. Trump.

"Together, these two great Americans will pave the way for my Administration to dismantle government bureaucracy, cut redundant regulations, cut wasteful spending, and restructure federal agencies - essential elements of the 'Save America' Movement," said the 45th President of the United States.

“I look forward to Elon and Vivek making changes to the Federal Bureaucracy that will drive efficiency and improve the lives of all Americans,” Trump said of his hopes for DOGE, which “could potentially be the Manhattan Project of our time. Republican politicians have dreamed about DOGE’s goals for a very long time.”

President-elect Donald Trump said DOGE will not be a federal agency. “To drive bold change, the Department of Government Efficiency will provide advice and guidance from outside the government, working with the White House and the Office of Management & Budget to drive large-scale structural reform, while creating an entrepreneurial approach to government that has never been seen before.”

“Importantly, we will eliminate the massive waste and fraud that exists in $6.5 trillion in government spending every year. Together, they will free our economy and hold the American government accountable to the people,” Trump concluded.

“DOGE’s work will be completed by July 2, 2026 – The result will be a leaner, more efficient, less bureaucratic government – ​​which would be the perfect gift to America on our 250th Independence Day. I believe they will succeed!”

While this development surprised some, others had predicted it, as Mr. Trump had promised during the campaign to create a role in the federal government for billionaire Elon Musk — who has a “voice” in American politics this election cycle.

“The creation of DOGE will shake up the system and anyone who deals with government waste — which is a lot of people!” Musk said in response to President-elect Donald Trump’s announcement.

Meanwhile, the 38-year-old businessman, who owns hundreds of millions of dollars in assets - Ramaswamy, immediately posted on social network X the status line: "We will not be gentle, @elonmusk" and added the American flag symbol",

Mr. Ramaswamy also elaborated on some of DOGE’s goals. “This is a key point about our mission at DOGE — removing red tape is not just a policy priority,” Mr. Ramaswamy said.

After citing a number of legal issues, courts and existing lawsuits in the United States, Mr. Vivek Ramaswamy - who was called "an American patriot" by the President-elect - declared, "DOGE is ready to help the US government comply with the Constitution, @elonmusk and I are ready to serve".

Businessman Ramaswamy is one of the prominent faces in the Republican Party, once a competitor with Mr. Trump and Ms. Nikki Haley in the campaign for the party's presidential nomination (February 2023). After withdrawing from the Republican nomination race, he turned to support candidate Donald Trump.

During his campaign, Ramaswamy claimed that 75% of the US government was inefficient. Meanwhile, billionaire Elon Musk, who successfully revived Twitter (later renamed X ) after cutting 80% of its staff, claimed that cutting staff and downsizing the government would save $2 trillion for the federal budget.

Speculation surrounding the information about President-elect Donald Trump's DOGE Ministry, which was revealed by billionaire Musk for months before it was officially announced, has caused the price of Dogecoin, also known as DOGE - the same acronym for the US Department of Government Efficiency and also a cryptocurrency that the tech billionaire has been promoting, to skyrocket by 120% in a week.

DOGE rose from $0.165 on the night of Trump's re-election to a high of $0.44 shortly after.

After peaking at $0.44, DOGE corrected to $0.337, but media attention following Musk’s statements helped the price recover quickly. DOGE reached a high of $0.434 on the morning of November 13.

Source: https://baoquocte.vn/ong-trump-khoi-dong-chien-dich-cai-to-nuoc-my-doge-tuyen-chien-voi-that-thoat-chuan-bi-mon-qua-hoan-hao-tang-ngay-independence-293709.html