DOGE is critical to the fight against US inflation

The naming of the Department of Government Efficiency, DOGE, under the incoming administration of Donald Trump has caused much debate, especially when it comes to US inflation – Tyler Winklevoss. Tyler, the co-founder of Gemini, commented on DOGE, which proposed eradicating government waste and combating US inflation, which has risen above 2.6%. He has emphasized that such initiatives are crucial in the fight against the “silent tax” of inflation, which affects poor Americans the most.

DOGE is crucial to combat the ‘regressive pressure’ of inflation

The announcement of the Department of Government Efficiency (DOGE) under a potential Trump administration has sparked much debate. Tyler Winklevoss, co-founder of Gemini, spoke out about the proposed initiative, which aims to eliminate wasteful government spending and tackle price growth. US inflation rose by 2.6% on an annual basis last month, slightly higher than in September.

He emphasized the importance of addressing the price hike, a “silent tax” that disproportionately burdens low-income Americans, arguing that such measures are essential for economic justice and sustainability.

Anyway, Tyler Winklevoss, who recently criticized SEC Chairman Gary Gensler, called him evilnow said that inflation requires a more innovative approach to control because it destroys prosperity and puts regressive pressure on economies, especially those ill-equipped to bear it.

The department is committed to reducing federal inefficiency, but its potential impact on U.S. inflation remains a key issue. Critics suggest that the lack of clear government power could limit DOGE’s ability to address this effectively.

Previously, Tyler severely criticized SEC Chairman Gary Gensler for his approach to regulating cryptocurrencies. In particular, he called for Gensler to be permanently removed from all positions of influence, claiming that he was undermining the crypto industry to further his political ambitions.

Meanwhile, the US dollar is continually weakening as a store of value due to the Federal Reserve’s increase in the money supply. With these factors in mind, the Winklevoss brothers believe that Bitcoin will grow significantly.

This is based on the fact that its introduction – especially by central banks – could cause a price spike, probably up to $500,000 per coin. Just for comparison: with regard to inflation, Peter Brandt recently predicted Bitcoin turns bullishindicating that the crypto could reach new highs in the coming days.

Tyler Winklevoss urges action on inflation’s impact on low-income Americans

The USA inflation rose by 2.6% on an annual basis last month, slightly higher than in September. This follows a series of interest rate cuts by the Federal Reserve. These cuts were intended to address falling prices and a weaker labor market. October’s Consumer Price Index (CPI) met expectations, marking an increase from September’s 2.4%. This increase coincided with an interest rate cut of 0.5 percentage points and a second cut in November.

The Winklevoss twins described some unique features that set Bitcoin apart: its unchanging supply of 21 million coins that creates scarcity and a decentralized system that provides security and protection against physical seizure. Such properties make it ‘digital gold’ or ‘gold 2.0’.

Tyler Winklevoss sees Bitcoin’s scarcity and decentralization as important solutions to combat inflation and protect against economic instability. He advocates embracing innovative financial instruments to guarantee equal opportunities in the face of rising costs.

Unlike more traditional inflation hedges such as oil, gold and the US dollar, Bitcoin is resistant to geopolitical volatility and central bank manipulation. While oil, while necessary, experiences price differentials, gold faces practical challenges of transportation and the risk of confiscation.