Elon Musk Denies U.S. Government’s Plan to Use Dogecoin

Elon Musk, CEO of Tesla, has stated that the U.S. government has no plans to adopt Dogecoin (DOGE). He dismissed speculation linking Dogecoin to the Department of Government Efficiency (DOGE) project, which he is currently leading.

DOGE: Government Efficiency, Not Cryptocurrency

Speaking at the America PAC Town Hall in Green Bay, Wisconsin, on March 30, Musk clarified, “As far as I know, the government has no plans to use Dogecoin. It’s just a coincidence in the name.” He explained that the initiative was originally called the Government Efficiency Commission but was renamed for a more engaging appeal.

The DOGE project aims to reduce federal spending and streamline administrative processes. “Making the government 15% more efficient—that’s it. That’s literally the whole point,” Musk emphasized. The initiative was launched under former President Donald Trump’s directive, fueling speculation about potential crypto-related developments.

Musk’s Goal: Cut $1 Trillion Before Stepping Down

In a recent Fox News interview, Musk revealed that he plans to step down from his government role once he achieves a $1 trillion reduction in federal spending, which he estimates will take around 130 days—potentially ending his tenure by late May.

The DOGE team, composed of engineers and entrepreneurs, is already implementing major cost-cutting measures. One notable discovery was the issuance of 4.6 million government credit cards—far exceeding the 2.3 to 2.4 million federal employees—which Musk criticized as "outrageous."

Controversy Over DOGE’s Authority

Musk described the initiative as “a kind of revolution” that will significantly improve U.S. fiscal stability. However, critics argue that DOGE wields excessive power, unilaterally terminating certain contracts and programs without congressional approval.

Musk defended the approach, stating, “Every decision has been carefully considered, and adjustments were made where necessary.”

Dogecoin: No Connection to the Government Initiative

Despite Musk’s long-standing support for Dogecoin—praising its inflationary model as suitable for everyday payments—he reiterated that the DOGE government project has no relation to the cryptocurrency beyond its name.