Musk’s Crypto Move: Cardano in the Limelight?

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“Musk’s Crypto Move: Cardano in the Limelight?”

Musk’s Crypto Move: Cardano in the Limelight?

Recently, Charles Hoskinson, the brain behind Cardano, dropped a little bombshell during a livestream that had everyone buzzing. He hinted at the wild possibility of the US government, under the watchful eye of Elon Musk (yes, the guy now running the Department of Government Efficiency, or DOGE for short), adopting Cardano. Now, before you jump to conclusions, there’s been no official nod from DOGE, the US Treasury, or Musk himself. But hey, the crypto world loves a good rumor, right?

Elon Musk, the man who once made rockets seem like child’s play, has been influencing President Trump’s administration since he took the helm at DOGE. Despite some grumbles about corporate power mingling with government policy, Musk’s influence keeps growing. And now, everyone’s wondering what his next crypto trick will be. 🤔

Hoskinson: Cardano, Ready and Waiting

Hoskinson thinks Musk’s grand plans might include a nudge to the federal government to embrace blockchain technology. In his own words, “And also he [Elon Musk] is going to make recommendations for the US government to adopt cryptocurrency as well. And there’s been a lot of discussion. Would Cardano be in that conversation? I would believe so.”

But here’s the catch: getting the US government to adopt anything is like trying to teach a cat to dance. 🐾 “The challenge is that Elon can’t mandate that the US government do that. It has to go through the normal procurement process. And what will happen is that those RFPs will take years to work their way through because there will be lawsuits and debates and congressional acts that are required, all kinds of things. And so, you know, whenever that process comes, we’ll be there,” Hoskinson explained.

Hoskinson also took a stroll down memory lane, reminding us of the regulatory nightmare crypto faced in the past. Coinbase, Kraken, Binance—all got sued. Banks were told to give crypto companies the cold shoulder. “The last four years were horrible… I had bank accounts shut down. So the number one goal is get rid of that environment. The number two goal is to create a pro-growth environment… And the number three goal is let’s get the United States government on a blockchain. Let’s make sure Cardano is part of that story, and I think there’s a path there,” he said.

Everyone knows Musk’s love affair with Dogecoin, but what’s next? Hoskinson guesses that Musk is gearing up “to get into the cryptocurrency space full tier” via his platform X. The big question is, which blockchains will get the Musk seal of approval? 🚀

“What Elon Musk is going to do with cryptocurrency? We all know he’s planning on getting into the cryptocurrency space full tier, and that’s going to be through X. X will be a cryptocurrency wallet, and it’ll be the largest cryptocurrency wallet in the world. It’ll be 500 million users,” Hoskinson speculated. He added, “So then the question is, well, what cryptocurrencies does he support? Does he want to do DeFi? What chains does he want to actually start investing in and doing? It’s been mercurial. Nobody knows. Not Ethereum, not Solana, nobody.”

Rumors are flying that Musk, through DOGE, is checking out blockchain solutions to make government operations less, well, governmental. Bloomberg’s sources hint at a digital ledger for monitoring government spending, securing info, processing payments, and even managing federal buildings. 🏛️

And here’s a juicy bit: Dogecoin reps have reportedly “informally reached out” to various public blockchains, sparking whispers about Cardano making the shortlist for government use.

Then there’s Hoskinson’s cryptic social media post. Last week, he wrote on X: “VIP dinner got moved from the 22nd to the 1st. So the super important meeting is early March now.” When asked about the menu, he just said, “diet coke will certainly be on it.” Some think this is a nod to Trump and Musk, both known for their love of Diet Coke. 🥤

Is this all just speculation? Maybe. But supporters believe it points to Trump’s White House and Musk’s ongoing role in shaping government policy through DOGE.

As of now, ADA is trading at $0.78. Stay tuned, folks!

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2025-02-20 23:43