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Elon Musk and Vivek Ramaswamy are spearheading the Department of Government Efficiency (DOGE) under President-elect Trump, aiming to cut federal spending by $2 trillion. Their strategy includes slashing regulations and reducing the federal workforce, but faces significant political and legal challenges.
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Bitcoin recently reached a record high of $108,315, driven by optimism surrounding President-elect Donald Trump's pro-crypto stance. As traders anticipate a Federal Reserve interest-rate cut, the overall crypto market value nears $4 trillion. However, volatility persists as Bitcoin fluctuates around $106,400 as of Wednesday morning in Singapore.
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Bitcoin has reached a record high of over $103,000, driven by optimism surrounding the incoming Trump administration's pro-crypto policies and the appointment of Paul Atkins as SEC chair. Analysts predict further growth, with Bitcoin potentially hitting $200,000 by late 2025 as institutional interest and ETF investments rise.
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Bitcoin has surged to over $107,000, driven by optimism surrounding the incoming Trump administration's potential for a friendlier regulatory environment for cryptocurrencies. Trump's hints at creating a national bitcoin reserve have further fueled investor enthusiasm, with Bitcoin up approximately 150% in 2024. MicroStrategy's inclusion in the Nasdaq 100 also boosts sentiment.
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As states like Texas and Pennsylvania propose legislation to create bitcoin reserves, proponents argue it could serve as a hedge against inflation. However, critics warn of the volatility and risks associated with cryptocurrency investments. The push is gaining momentum amid a supportive federal government under President Trump.