A Dose of Cold Water from Elon: US gov has 'no plans' to use Dogecoin

[TomPluz]

The U.S. government currently has no plans to adopt Dogecoin, Elon Musk said Sunday.

"There are no plans for the government to use Dogecoin or anything as far as I know," Musk said during a town hall meeting hosted by the America PAC, which he created last year.

On stage, the Tesla CEO explained that the name of the federal department came from suggestions on the internet, which led him to change the name from Government Efficiency Commission to DOGE.

"The names are similar, but they're doing two very different things," Musk said. "We're just literally trying to make the government 15% more efficient."

More details on this from TheBlock.

People who are entertaining the idea that Dogecoin will somehow get involved with DOGE or the government for that matter should now realize that this is not happening even with Elon Musk is now becoming a very influential public figure in the administration of POTUS Trump. Though this can be somewhat of a bad news to Dogecoin supporters and enthusiasts, this is actually good since there should be a defined line between the government and the cryptocurrency industry (the regulator and the regulated). I am just wondering if this can affect the possibility of a Dogecoin ETF into the future...or does that idea not deserving to be explored in the first place?

[Charles-Tim]

It should not be the reason we should discuss about if doge spot ETF will be filled for and be approved in the United States.

If doge is due to have ETF and it is filled for by some asset managers, the SEC may approve it.

[Bobcrypto]

I personally doubt the possibility of the SEC's Dogecoin ETF approvals despite Elon Musk influence on the current regime of Donald Trump. There are many utility token ETF applications before SEC, i am completely not sure of any meme coins ETF will be approve.
I think the utility tokens that had applied for ETF, like XRP, Sol, not sure if Ada has applied, but XRP and Sol may get ETF registrations approval in near future, being part of the US strategic reserve coins/token that was listed.

[Charles-Tim]

I personally doubt the possibility of the SEC's Dogecoin ETF approvals despite Elon Musk influence on the current regime of Donald Trump. There are many utility token ETF applications before SEC, i am completely not sure of any meme coins ETF will be approve.
I think the utility tokens that had applied for ETF, like XRP, Sol, not sure if Ada has applied, but XRP and Sol may get ETF registrations approval in near future, being part of the US strategic reserve coins/token that was listed.

Not the developers or creators that are applying for the ETF. Asset managers are the companies applying for it. About doge ETF application, you can read this:

https://www.financemagnates.com/cryptocurrency/dogecoin-etf-approval-likely-in-2025-as-sec-scrutinizes-bitwise-and-grayscale-filings/

It will even surprise you that Official Trump ETF have been applied for by an asset management. What a stupidity.

[DegenLifestyle]

It should not be the reason we should discuss about if doge spot ETF will be filled for and be approved in the United States.

If doge is due to have ETF and it is filled for by some asset managers, the SEC may approve it.

I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?

[target]

It should not be the reason we should discuss about if doge spot ETF will be filled for and be approved in the United States.

If doge is due to have ETF and it is filled for by some asset managers, the SEC may approve it.

I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?

Maybe among of the strategic reserves.

We'll never know. Musk wouldn't be doing all these if he isn't benefiting from these. Right now he could still make the doge price drop by telling the people that Doge will not be used.

And this is coordinated and very timely fud while he said twitter was also sold to a xAI. But in reality he also owns this Xai.

[Charles-Tim]

I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?

For people to be buying the shares. Doge has some utilities. I gave seen it as a payment alternative to bitcoin with some other altcoins. But these coins are just not store of value.

Maybe among of the strategic reserves.

Only bitcoin is still part of the reserve. Among the coins that Trump mentioned, doge is not among.

[TravelMug]

I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?

For people to be buying the shares. Doge has some utilities. I gave seen it as a payment alternative to bitcoin with some other altcoins. But these coins are just not store of value.

Maybe among of the strategic reserves.

Only bitcoin is still part of the reserve. Among the coins that Trump mentioned, doge is not among.

You're right, I try to look if there are Doge that the US has been holding, there are none,

https://intel.arkm.com/explorer/entity/usg

In any case, Doge has been existing for many years now, and and it has ups and downs in the market. So I do not think that even Musk tells that they don't have plans to use Doge, it won't have any domino effect on it.

[Brijesh]

Right, using meme like doge in payment system is silly things, also no use case of doge, reputated country like us will not make mistakes to use doge

[LogitechMouse]

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People who are entertaining the idea that Dogecoin will somehow get involved with DOGE or the government for that matter should now realize that this is not happening even with Elon Musk is now becoming a very influential public figure in the administration of POTUS Trump. Though this can be somewhat of a bad news to Dogecoin supporters and enthusiasts, this is actually good since there should be a defined line between the government and the cryptocurrency industry (the regulator and the regulated). I am just wondering if this can affect the possibility of a Dogecoin ETF into the future...or does that idea not deserving to be explored in the first place?

That will make the government funny if they will use a meme coin like DOGE, and that might affect the reputation and some governments will look them as a "funny" government because they will be using a meme coin like DOGE. I mean if they're planning on using a cryptocurrency, there are more and better options out there like Bitcoin itself, or maybe Ethereum, or maybe Ripple, but not DOGE.

Now I'm thinking if in the future, we will be seeing a DOGE ETF. I mean we've seen companies applying for an ETF on different altcoins such as SOL, XRP, LTC, and I saw some applying for SUI and AVAX ETF as well. Will not be surprised if there will be a company applying for a DOGE ETF.

[bitterguy28]

The U.S. government currently has no plans to adopt Dogecoin, Elon Musk said Sunday.

"There are no plans for the government to use Dogecoin or anything as far as I know," Musk said during a town hall meeting hosted by the America PAC, which he created last year.

it is good to finally have a clear stance on this so the doge investors can now be at peace and know where they stand i do think that knowing is better than being left in the dark so at least now they have their answer but this doesn't mean that doge should be totally useless now because doge can still be used in x and in tesla both elon musk's companies it just wouldn't be part of the government plans

this is actually good since there should be a defined line between the government and the cryptocurrency industry (the regulator and the regulated)
[/quote]
yup well doge is a memecoin so i am not really that disappointed to hear doge would not be part of the government's plans as all we wanted was for bitcoin to be the one to be adapted

[Lucius]

Right, using meme like doge in payment system is silly things, also no use case of doge, reputated country like us will not make mistakes to use doge

But at the same time, they will use various other altcoins in their strategic reserves, which obviously only makes sense to those who made such a decision, apparently for some personal (financial) reasons. Unlike those altcoins, DOGE has much greater support and has been around for a relatively long time on the crypto scene.

I personally have a large amount of DOGE that I collected a long time ago from faucets, and if someone had told me that it would ever be worth only $0.10, I would probably have told them they were crazy. At that time, the price of that coin could only be expressed in terms of 1000 DOGE = $0.14.

Therefore, it doesn't really make sense to compare meme coins today with what DOGE has achieved.

[yhiaali3]

Even if there is no real connection between the name "Dogecoin Efficiency Authority" (DOGE) and the Doge coin, whales and Doge enthusiasts have successfully exploited this similarity and promoted it to their advantage. Although I personally believe Elon Musk did this intentionally, Even he has denied any connection.

In any case, I don't believe this is a different matter from the Dogecoin ETF, which is expected to be approved, and I believe Elon Musk's statement will not affect the approval decision.

[Lucius]

~snip~
In any case, I don't believe this is a different matter from the Dogecoin ETF, which is expected to be approved, and I believe Elon Musk's statement will not affect the approval decision.

I wonder if the Doge ETF (if approved) will have any impact on the price of this coin - because let's remember how much hope was placed in the ETH ETF, and in the end the price of that token did not increase, but on the contrary, the price fell even more.

Doge has always been a fun cryptocurrency in the literal sense with great community support and a coin that some like me discovered at the same time as BTC. Little from that period has survived to this day, and that in itself shows that the crypto community's support for this coin has never been lost.

[yhiaali3]

Doge has always been a fun cryptocurrency in the literal sense with great community support and a coin that some like me discovered at the same time as BTC. Little from that period has survived to this day, and that in itself shows that the crypto community's support for this coin has never been lost.

Yes, I agree, I've been a fan of Doge since I was first introduced to cryptocurrencies, even though it doesn't have any project.

I was first introduced to BTC, then LTC, then Doge, and I was a long-time holder of this coin and often used it for my money transfers because it is fast and the fees are low, this was long before Elon Musk heard of Doge.