All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- The conversations around a potential DOGE Dividend are stirring buzz on X.
- Americans may get a $5,000 rebate from potential savings made by Elon Musk’s D.O.G.E.
Tesla founder and billionaire entrepreneur Elon Musk has commented on a recent DOGE Dividend proposal for US citizens. Musk said he would talk to President Donald Trump about the proposal to give taxpayers a $5,000 refund check.
Details of the $5,000 ‘DOGE Dividend’
According to the proposal, Musk’s Department of Government Efficiency (D.O.G.E) will fund Americans’ $5,000 refund check.
The CEO of investment firm Azoria, James Fishback, pitched the DOGE Dividend check proposal on Friday. The proposal returns 20% of DOGE’s targeted $2 trillion savings to approximately 79 million American taxpayers, Fishback says, resulting in about a $5,000 rebate per household.
Fishback continued posting the proposal on social media, tagging Elon Musk in his posts. By Tuesday, Musk responded that he would inform President Trump. “Will check with the President,” Trump stated.
Musk’s response to Fishback quickly gained traction with the online community. Several market participants began celebrating in anticipation of the proposal’s approval. However, Musk has coined his commitment differently in a follow-up post, emphasizing that the ultimate decision lies with President Trump.
As revealed on the doge.gov website, the US currently has about $55 billion in DOGE savings. According to the website, the savings are accumulated from fraud detection/deletion, contract/lease cancellations, asset sales, grant cancellations, and workforce reductions.
Notably, Elon Musk’s led agency, D.O.G.E., recently came under fire following recent actions from the department. The agency tasked with identifying and eliminating “wasteful spending” has undertaken an aggressive effort to cut costs across federal agencies. This move has resulted in thousands of job cuts since Trump resumed his second term last month.
D.O.G.E. has also been criticized for its seemingly unrestricted access to sensitive federal data in the Treasury and Education Departments.
D.O.G.E’s Crypto Push
As CNF discussed earlier, Trump’s decision to place Musk at the forefront of D.OG.E is part of a broader vision to explore blockchain technology. Since resuming office, Musk has discussed experimenting with possible blockchain implementation for the US government’s daily operations.
The primary objective is to track and reduce government expenditure on securing data, making payments, and managing buildings. D.O.G.E officials are reported to have discussed this initiative with people in public permissionless blockchain networks for a comprehensive consultation.
Also, Elon Musk has extended an open invitation to the Dogecoin founder Billy Markus to work for the agency. As noted in our earlier post, this invitation further strengthens Musk’s commitment to the crypto industry. Musk is a strong supporter of the Dogecoin (DOGE) memecoin.
His comments about the memecoin have often helped to spark major rallies in DOGE’s price. The buzz around D.O.G.E. is also poised to boost the memecoin’s price in the future.
