Bitcoin.com News
Bitcoin.com News|Feb 11, 2025 11:32
🇺🇸 President Trump is taking a bold step to address the inefficiencies of fiat currency! He has ordered the U.S. Treasury to halt the production of the one-cent coin, or penny, due to its costly minting process. According to the Department of Government Efficiency (D.O.G.E.), led by Elon Musk, minting the penny cost over 179 million in the last fiscal year, with 4.5 billion pennies produced! 🤯 Trump stated, "For far too long, the U.S. has minted pennies which literally cost us more than 2 cents. This is so wasteful!" He aims to eliminate waste from the national budget, even if it’s just a penny at a time. Interestingly, each penny cost 0.037 to produce last year—over three times its face value! While some analysts question Trump's authority to end the penny, he may simply stop its minting without eliminating its specification. Could the nickel be next on the chopping block? What are your thoughts on this move? Let us know!
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