Elon Musk denies U.S. government plans to adopt Dogecoin

Elon Musk has refuted rumours that the U.S. government is integrating Dogecoin into its operations. Speaking at a town hall event in Green Bay, Wisconsin, on March 30, the Tesla CEO clarified that the Department of Government Efficiency (DOGE) has no ties to the cryptocurrency despite similarities in their names.

“There are no plans for the government to use Dogecoin or anything like that,” Musk stated. “We’re simply focused on making the government more efficient.”

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Origins of the DOGE initiative

The rumours began after the DOGE website briefly displayed Dogecoin’s Shiba Inu mascot in February 2025, leading to an increase in the cryptocurrency’s value. The image fuelled speculation that the government agency was considering Dogecoin for transactions or digital initiatives.

Following the display, the meme coin saw a 14 percent surge, but Musk’s response was to distance the government body from the coin.

The Department of Government Efficiency was launched under President Donald Trump’s administration as a cost-cutting measure to reduce federal expenses and eliminate agency redundancy. Musk, a known proponent of efficiency reforms, was appointed as an advisor to the department but has denied having policy-making authority.

“The name came from public suggestions,” Musk explained. “We originally considered calling it the Government Efficiency Commission, but the internet pushed for DOGE, and here we are.”

Despite Musk’s clarification, Dogecoin’s value dropped by 3.2 percent in the 24 hours following his statement, falling to $0.16.

Meanwhile, since its establishment, DOGE has overseen sweeping changes, including mass layoffs and budget cuts affecting various federal programs. The U.S. Agency for International Development (USAID) and the Consumer Financial Protection Bureau (CFPB) are also impacted.

While the White House maintains that Musk’s role is purely advisory, President Trump has publicly referred him as the department’s leader. Musk, however, insists that he is not receiving any compensation for his involvement. “We’re just trying to make things work better,” he said. “Nothing more, nothing less.”

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About Dogecoin

Dogecoin (DOGE), the meme-inspired cryptocurrency, remains a popular yet volatile digital asset. Initially created as a joke in 2013, it gained mainstream attention due to the endorsements from Elon Musk, who once called himself the “Dogefather.”

Despite its humorous origins, it is used for tipping, donations, and even Tesla merchandise purchases. However, its value often swings based on social media hype, with Musk’s tweets historically causing major price fluctuations.

Currently trading around $0.16, Dogecoin continues to ride the line between internet joke and speculative investment.