The announcement that the Department of Government Efficiency (DOGE), led by Elon Musk, has allegedly saved the U.S. Federal Government $55 billion has ignited debate over how to allocate the funds.
Musk has proposed returning 20% of the savings to Americans as a dividend, while David Bailey, CEO of Bitcoin Magazine and a former aide to the Trump presidential campaign, has suggested using the funds to invest in Bitcoin and create a strategic bitcoin reserve (SBR).
Bailey took to social media to advocate for the Bitcoin proposal, arguing it would provide economic stimulus from a potential rise in Bitcoin's price while also strengthening the country's balance sheet. He also mentioned that this approach would be "way simpler to execute" than distributing checks to approximately 180 million U.S. citizens.
President Trump has shown support for the idea of a DOGE dividend, praising the department's performance as "incredible" and suggesting that a portion of the savings could also be used to reduce national debt. Trump's backing indicates a strong political will behind the dividend proposal.
As DOGE continues its scrutiny of government agencies, the savings could potentially increase, which might further the discussion regarding the final allocation of these funds. Musk has previously set an ambitious target of $1 trillion in savings, a figure that has faced skepticism.
DOGE is actively seeking public assistance to identify areas of government waste and fraud, a step that could lead to even greater savings and potentially larger dividends or investments, depending on the final decision regarding the use of the funds.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.