Elon Musk announces that as far as his information goes, dogecoin is not being considered by the US government. This has caused for a decline in price of dogecoin but what do you think of this information regardless if you are holding doge or not.
But who would have expected the US government to add a memecoin to its strategic reserve, even if Trump had hinted at it? It's already called "strategic".
Surely they would be the dodge hodlers who believes Elon Musk decides whatever he wants and the US government will carry out his orders without question. LOL
Sometimes minds become naive to the point of extreme stupidity.
I think it is only right for some memecoins to not be part of the plans of the government. Not all cryptocurrencies can and should be part of the strategic reserve. This will undermine the novelty of bitcoin being part of strategic reserve and as a currency. But I also am confused since XRP and Solana were mentioned by Trump to be added to the strategic reserve. It made me question why not doge since Elon Musk is such a known close associate of Trump.
The idea of diversifying reserves with cryptocurrencies doesn't seem practical at all. Simply because no cryptocurrency can be as reliable as Bitcoin, due to the difficulty of achieving decentralization and the market power of these cryptocurrencies. While DodgeCoin is not suitable for inclusion in the US reserve, there are other cryptocurrencies that are more efficient than DodgeCoin and have a promising future, but they are also not suitable for inclusion in the reserve portfolio of the world's most powerful economy.
I have explained this point in several previous posts and thought it was a no-brainer. However, I am constantly surprised by the naivety of some of these ideas.