A recently released audio clip has reignited speculation about Elon Musk’s cryptocurrency holdings, with the tech mogul confirming he still owns a substantial amount of Dogecoin. In the same clip, Musk revealed that SpaceX, his privately held space exploration company, possesses a significant quantity of Bitcoin. The exact amount remains undisclosed.
This revelation comes on the heels of former President Donald Trump’s announcement of the Department of Government Efficiency (DOGE), an initiative aimed at streamlining federal operations and cutting costs. Trump has appointed Musk and entrepreneur Vivek Ramaswamy to lead the effort, tasking them with identifying areas for improvement and presenting their findings by July 4, 2026.
Musk’s admission of continued Dogecoin ownership is likely to further bolster the cryptocurrency’s recent surge. Dogecoin, originally created as a lighthearted internet meme, has seen its value more than triple in the past month, currently trading around 38 cents. The former President’s choice of “DOGE” for the initiative’s name appears to be a direct reference to the cryptocurrency and Musk’s affinity for it.
While the details of the DOGE initiative remain somewhat vague, Trump has described it as a crucial step towards reducing excessive regulations and wasteful spending within the federal government. The initiative’s funding and staffing remain unclear, with the Trump campaign yet to respond to inquiries on these matters. However, a social media account purportedly associated with the DOGE initiative has begun soliciting resumes from “super high-IQ small-government revolutionaries,” offering unpaid positions with demanding work hours. Musk himself confirmed that compensation for these roles would be zero.
