“He is a super genius. We need to protect our geniuses,” said Donald Trump about Musk in his victory speech in West Palm Beach, dedicating four minutes of his 26-minute address to the billionaire, calling him a “special person” and a “new star.”

Following this news, Dogecoin, the cryptocurrency associated with Musk, surged 24%, reaching $0.20, the highest value since April, and stabilized at $0.19, significantly higher than last year’s $0.07.

Musk, who supported Trump with over $118 million and actively spoke at rallies, may take a position in the new Department of Government Efficiency (DOGE), which will oversee government spending and combat fraud.