Key Takeaways
Elon Musk confirms that the US government has no plans to use Dogecoin.
The Department of Government Efficiency aims to improve operational efficiency by 15%.
Elon Musk clarified today that the US government has no plans to use Dogecoin, addressing speculation that links the popular crypto asset—which he has long endorsed—to the Department of Government Efficiency (DOGE) project he is currently leading.
“There are no plans for the government to use Dogecoin or anything, as far as I know,” Musk said, speaking at an America PAC town hall in Green Bay, Wisconsin, on Sunday.
Musk revealed he initially planned to name the initiative the “Government Efficiency Commission” but changed it to “Department of Government Efficiency” following public input.
“I was going to call it the Government Efficiency Commission, but that’s a super boring name,” he said.
The project aims to improve government operational efficiency by 15%, according to Musk. “Really, it’s just we’re just literally trying to make the government 15% more efficient,” he stated.
The government efficiency initiative was established by President Trump to cut federal spending and streamline operations. While Musk’s involvement has sparked speculation about crypto-related initiatives, DOGE’s primary focus is on government efficiency, not crypto adoption.
The confusion arises from the playful naming of the department, which coincides with Musk’s well-known association with Dogecoin as a meme crypto.
Tesla’s CEO has consistently expressed enthusiasm for Dogecoin through his tweets and public statements. He previously defended Dogecoin’s inflationary model, calling it “a feature” that supports its usability for everyday transactions.