Musk will lead DOGE – and promote Dogecoin

Could it be a coincidence? Probably not. For the first time, Bitcoin surpasses the $90,000 barrier. The “crypto world” is moving.

A bitcoin surpassed this Wednesday by first time os $90,000 (around 85,000 euros), anticipating a relaxation of legislation and more favorable policies for the sector with Donald Trump at the White House.

At 2:30 pm, the best-known and most used cryptocurrency reached US$91,000 and 25 minutes later it registered an appreciation of 3.65% to US$91,548.19.

Since Donald Trump’s US presidential election, the value of bitcoin has increased by around 30%.

According to analysts, the strong rise in bitcoin is due to the fact that Trump has shown a “open position to this market”, unlike what happened in 2016, when it was “totally against”.

The future US president promised that the regulation it will be “amiga” of cryptocurrencies, in addition to establishing a strategic stock of Bitcoin and make the US the global center of the sector.

And this in a politician who was even skeptical about cryptocurrencies – but Trump changed his mind when digital asset companies started investing a lot of money in his election campaign, recalls .

DOGE…coin

However, Donald Trump (or confirmed) that Elon Musk will be part of your administration. The multimillionaire will lead a new department, the “Department of Government Efficiency.”

Musk will enter the White House. What does this have to do with cryptocurrencies? More than it seems.

The department that Elon Musk will head, which does not yet exist, will have the original name Department of Government Efficiency. In a country that really likes acronyms, it will be called DOGE.

And Elon Musk promotes a cryptocurrency called… Dogecoin. It is an apparent – ​​unconfirmed – reference to cryptocurrency.

Whether it was a coincidence or not, Dogecoin soared last night, rising almost 20% in its valorization. Today, Wednesday, it was already up more than 13%, according to data from the CoinGecko platform cited in the magazine.

This reinforces the unprecedented rise of “one of the big winners” of the post-elections in the USA. It has more than doubled its value (150%) since election day, November 5th. In the last five days alone it has appreciated by 80%.

Musk soon became one of the biggest promoters of the Dogecoin cryptocurrency (which he did not create) – although he also criticizes it several times.

Over the last few months, he has moved away from Dogecoin (he even said that investors shouldn’t even bet on this cryptocurrency) but, closer to the presidential elections, he started making several references to the digital currency.

There are investors who will be waiting for the Dogecoin starts to be used in projectsin companies, by Musk. The X token, for example.

“It’s a Musk and Trump thing”, summarizes the .