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Perhaps Elonia’s days in the new administration are numbered if Trump feels upstaged by Musk’s continued and dominant presence in all matters. Nevertheless, a segment from an article in The Atlantic:

“Cryptocurrency is the financial engine of the broligarchs’ political project. For centuries, states have been defined by two monopolies: first, on the legitimate use of coercive force (as by the military and the police); and second, on control of the money supply. Today’s broligarchs have long sought to weaken government control of global finance. Thiel notes in his 2014 book, Zero to One, that when he, Musk, and others started PayPal, it “had a suitably grand mission … We wanted to create a new internet currency to replace the U.S. dollar.” If broligarchs succeed in making cryptocurrency a major competitor to or replacement for the dollar, the effects could be enormous. The American currency is also the world’s reserve currency—a global medium of exchange. This has contributed to U.S. economic dominance in the world for 80 years and gives Washington greater latitude to use financial and economic pressure as an alternative to military action.

Undercutting the dollar could enrich broligarchs who hold considerable amounts of wealth in cryptocurrencies, but would also weaken the United States and likely destabilize the world economy. Yet Trump—despite his pledge to “Make America great again” and his previous claims that crypto was a “scam” against the dollar—now seems fully on board with the broligarchs’ agenda. Signaling this alignment during his campaign, Trump gave the keynote speech at a crypto conference last July; he later pledged to make crypto a centerpiece of American monetary policy via purchase of a strategic bitcoin reserve. The day after the election, one crypto advocate posted on X, “We have a #Bitcoin president.” The incoming administration is reportedly vetting candidates for the role of “crypto czar.”

If American economic and political dominance recedes, the country’s wealthiest men may be well positioned to fill and profit from the power vacuum that results. But is a weakened country, greater global instability, and rule by a wealthy few really what voters wanted when they chose Trump?”