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Bitcoin's price has surged to around $89,313 following Donald Trump's election victory, driven by expectations of pro-cryptocurrency policies. The cryptocurrency has gained 18% in just five days, with predictions of it reaching six figures by year-end. Other digital assets, including dogecoin, have also seen significant increases.
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President-elect Donald Trump has appointed Elon Musk to head the newly formed Department of Government Efficiency (DOGE), aimed at reducing federal spending and bureaucracy. Musk, alongside Vivek Ramaswamy, plans to cut at least $2 trillion from the budget by restructuring federal agencies and eliminating wasteful expenditures.
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Elon Musk has been appointed to a new advisory role in Donald Trump's administration, focusing on government efficiency. This comes as the Guardian and other media outlets withdraw from using X, Musk's social media platform, citing its toxicity. The implications for both Musk's businesses and government operations remain to be seen.