The post Wild Crypto Bet: Could Dogecoin Hit $1,000 If Used to Settle US Debt? appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE), once dismissed as a joke cryptocurrency, has now found itself at the center of a highly unconventional financial debate—could it be used to offset the United States’ towering $33.9 trillion national debt? While the idea may seem outlandish, speculation has surged following recent developments, including government discussions on blockchain integration and the establishment of the Department of Government Efficiency (D.O.G.E), backed by Elon Musk. DOGE Department and Fiscal Innovation The Trump administration’s formation of the D.O.G.E department on January 21 has fueled speculation that blockchain technology, and specifically Dogecoin, could be considered as a tool for managing national finances. “We are exploring all options for improving government efficiency, and digital assets are part of the conversation,” a White House source speaking anonymously revealed. The Department of Government Efficiency (D.O.G.E.) is deploying AI and robotics to uncover hidden crimes and drive a new era of transparency. Source: PlethoraLLC via X Musk, a long-time Dogecoin advocate, has hinted at DOGE’s potential role in economic policy. In a recent tweet, he playfully suggested, “What if we just paid off the debt in Doge? Crazy enough to work?” While likely made in jest, such statements have added fuel to ongoing speculation. Can Dogecoin Realistically Repay the National Debt? For Dogecoin to be a viable asset to pay off any part of the national debt, its value would have to appreciate significantly. Currently, DOGE changes hands at about $0.25 with a market capitalization of about $37 billion. If DOGE were to appreciate to $1,000 per coin, its market capitalization would have to surpass $147 trillion—a far cry from the combined value of the top ten S&P 500 companies. With Elon leading the charge, Dogecoin is tackling government waste and transforming the national debt into a savings scoreboard. Source: Cryptomagus via X “The numbers…

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Filed under: News - @ February 10, 2025 8:25 pm