Business tycoon Elon Musk suggested in a post on X that Scott Bessent, who previously worked as chief investment officer for Soros Fund Management, would be a status quo Treasury secretary pick, but that Trump transition co-chair Howard Lutnick would be a change agent.
Bitcoin is the currency of freedom, a hedge against inflation for middle class Americans,a remedy against the dollar’s downgrade from the world’s reserve currency, and the offramp from a ruinous national debt. Bitcoin will have no stronger advocate than Howard Lutnick," Kennedy wrote. Sen. Lindsey Graham, R-S.C., said he believes Bessent would "be outstanding," according to Semafor.
In a statement, Trump noted that DOGE "will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before."