Tesla billionaire Elon Musk has predicted the U.S. could collapse into bankruptcy "super fast"—joking he will "fix" it with a "department named after a meme coin."

Elon Musk's net worth has reached an unprecedented $348 billion, solidifying his position as the world's richest person. Tesla's stock surge following Donald Trump's election win, coupled with the soaring valuation of Musk's AI company,

Elon Musk rockets to $347.8 billion net worth, fuelled by Tesla's rally, xAI's boom, and a new gig in Trump's 'DOGE' department

Dogecoin (DOGE) has rallied another 27% this week, reaching a new yearly high of $0.48 on Nov. 23. The memecoin’s monthly gains are a whopping 236%, and it remains the third-highest traded crypto asset based on 24-hour trading volumes with $19.

To Musk's credit, he tried to add some utility to Dogecoin to help support its value. At the end of 2021, he announced that Tesla would accept the token as payment for certain items of merchandise. That didn't move the needle in terms of adoption, and its price continued to trend lower.

Bitcoin vaulted to a record high on Thursday, surging more than 3% in early trading and hurtling toward investors' long-sought milestone of $100,000. The price of bitcoin briefly exceeded $98,000 for the first time on Thursday morning,