Elon Musk denies discussing crypto with Trump amid speculation.
Lately Trump has been actively promoting Bitcoin (BTC), possibly as a way to attract voters.
There is speculation of a potential advisory role for Musk in Trump’s 2024 presidential campaign.
Elon Musk, the CEO of Tesla and SpaceX, in a post on X has firmly denied reports suggesting he discussed cryptocurrency with former President Donald Trump.
This denial comes amid growing speculation and multiple reports claiming the two influential figures have been conversing about crypto-related matters.
Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do
— Elon Musk (@elonmusk) May 30, 2024
Bloomberg started it stating Musk advised Trump on Crypto
The controversy began when a Bloomberg report suggested that Musk had counseled Trump on cryptocurrency policy, igniting significant interest and speculation within the media and the cryptocurrency community.
Adding fuel to the fire, DogeDesigner, a notable figure in the crypto community, tweeted about Musk and Trump allegedly discussing cryptocurrency policy.
These rumors surfaced as Trump, the leading candidate for the 2024 Republican presidential nomination, has been vocally promoting Bitcoin and other digital assets on the campaign trail.
Trump has been positioning cryptocurrencies as a strategic asset for the United States, emphasizing that the country must be a leader in the field. His personal crypto holdings reportedly exceed $10 million, and the MAGA token, associated with his campaign, recently hit an all-time high of $15.4.
Further adding to the intrigue, The Wall Street Journal reported on May 29 that Trump is considering a possible advisory role for Musk should he win the 2024 presidential election. The report highlighted that, despite a previously tense relationship, Musk and Trump have been engaging in political discussions on various policy ideas, including immigration and crypto.
Musk, however, clarified that he will not be contributing to any presidential campaigns but has allegedly informed Trump of his intention to hold events aimed at discouraging wealthy supporters from backing Joe Biden.
What Elon Musk, Trump relationship mean for crypto
The developing relationship between Musk and Trump has significant implications for the cryptocurrency market. Both individuals possess the ability to influence public attitudes toward digital currencies profoundly.
Their discussions and Musk’s proactive stance on crypto could sway investor sentiment and shape future regulatory policies, potentially impacting the broader adoption and stability of the crypto market.
As the 2024 election approaches, the intertwining of political discourse and cryptocurrency continues to draw attention.
While Musk has denied any crypto talks with Trump, the potential for collaboration between these two influential figures remains a subject of keen interest and speculation.
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