In a moment that has sent shockwaves across both political and crypto circles, former President Donald J. Trump has reportedly begun questioning the legitimacy and value of DOGE (Dogecoin) the once hyped meme cryptocurrency he had openly praised during his administration.
According to sources close to Trump, the former president recently lashed out in frustration after new reports showed that the government’s brief experiment with Dogecoin as part of its “blockchain efficiency” pilot project had actually cost taxpayers more than it saved.
“Was it all bullshit?” Trump allegedly asked aides during a closed-door briefing earlier this week, according to three senior staffers present in the room.
The remark is now trending on X (formerly Twitter), igniting fierce debates over how Dogecoin became entangled with federal projects and whether the hype ever made any economic sense.
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Back in 2023 and 2024, Dogecoin surged in visibility as a populist-friendly digital currency. It was embraced by internet communities, celebrity influencers and even some members of Trump’s former economic advisory circle, who floated the idea of integrating crypto into certain federal tech programs to cut costs.
Dogecoin was reportedly tested in low-risk digital transactions, including minor procurement systems and promotional tech pilots under a Trump-aligned think tank. But according to a recent federal oversight report, the project ended up costing more in implementation and security than any measurable financial benefit.
The Department of Treasury’s April audit found that the Dogecoin pilot ballooned in cost due to conversion inefficiencies, cybersecurity upgrades, and public confusion. An unnamed Treasury official said the system “was not designed for serious public sector use, and adapting it was like trying to build a bridge out of Legos.”
Trump, who once jokingly called Dogecoin “the people’s crypto,” is now reportedly furious that the initiative made its way into pilot projects without more scrutiny.
“He feels misled,” one aide said. “He bought into the idea that it was a low-cost, low-risk innovation. Now he’s saying maybe the whole thing was a bad joke.”
Dogecoin defenders argue the failure lies not with the coin itself, but with poor planning and government mismanagement.
“You don’t blame the hammer when someone builds a bad house,” said crypto analyst Leah Valente. “Dogecoin is still a functional peer-to-peer network it just wasn’t meant to be a government tool.”
Others say the move only proves how quickly politicians even Trump can turn on the crypto movement when it stops serving headlines.
While Dogecoin’s price dipped slightly following the news, the crypto community remains deeply divided. Some worry that Trump’s sharp shift in tone could influence broader public opinion and regulation. Others believe the former president is merely distancing himself to protect his political legacy.
Whether Dogecoin was ever meant to “save America money” is now up for debate but one thing is clear: even Trump is no longer sure it was ever more than just a meme.
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