Bitcoin surpasses silver as Dogecoin rallies on Musk's new role
qz.com —
Dogecoin surged after Elon Musk was appointed to lead a new group focused on government efficiency. This news boosted interest in the cryptocurrency, reflecting Musk's influence in the market. Bitcoin's price has reached over $93,000, surpassing silver to become the eighth largest asset globally. The rally was fueled by Donald Trump's recent election win, although its growth is now moderating. Stocks in various sectors, including banking and energy, have also risen following Trump's victory. Tesla's stock has seen significant gains, causing losses for short-sellers who bet against it.