- Elon Musk denies discussing cryptocurrencies with Trump amid hypothesis.
- Trump has been actively selling Bitcoin (BTC) lately, probably as a approach to entice voters.
- There’s hypothesis about Musk's potential advisory function in Trump's 2024 presidential marketing campaign.
In a submit on X, Elon Musk, CEO of Tesla and SpaceX, strongly denied stories suggesting that he mentioned cryptocurrency with former President Donald Trump.
The denial comes amid rising hypothesis and quite a few stories claiming the 2 influential figures have been speaking about cryptocurrency-related issues.
I'm positive I've by no means mentioned cryptocurrencies with Trump, though I'm usually in favor of issues that shift energy from the federal government to the individuals, which cryptocurrencies can do.
— Elon Musk (@elonmusk) Could 30, 2024
Bloomberg began it with Musk advising Trump on cryptocurrencies
The controversy started when a Bloomberg report advised that Musk was advising Trump on cryptocurrency coverage, sparking appreciable curiosity and hypothesis within the media and cryptocurrency group.
DogeDesigner, a distinguished determine within the crypto group, added gas to the hearth by tweeting about Musk and Trump allegedly discussing cryptocurrency coverage.
The rumors emerged as Trump, the front-runner for the 2024 Republican presidential nomination, has been vocal about selling bitcoin and different digital belongings on the marketing campaign path. He lately even promised to exonerate Silk Street creator Ross Ulbricht if re-elected.
Trump is positioning cryptocurrencies as a strategic asset for the US, stressing that the nation have to be a pacesetter on this space. His private cryptocurrency holdings reportedly exceed $10 million, and the MAGA token related along with his marketing campaign lately hit an all-time excessive of $15.4.
The Wall Avenue Journal additional added to the intrigue on Could 29 with a report that Trump was contemplating a doable advisory function for Musk ought to he win the 2024 presidential election. The report highlighted that regardless of a beforehand strained relationship, Musk and Trump are participating in coverage discussions on numerous coverage concepts, together with immigration and cryptocurrencies.
Nonetheless, Musk has clarified that he is not going to contribute to any presidential marketing campaign, however has reportedly knowledgeable Trump of his intention to carry occasions geared toward dissuading rich supporters from supporting Joe Biden.
What Elon Musk and Trump Relationships Imply for Cryptocurrencies
The creating relationship between Musk and Trump has vital implications for the cryptocurrency market. Each people have the flexibility to profoundly affect public attitudes towards digital currencies.
Their discussions and Musk's proactive stance on cryptocurrencies might affect investor sentiment and form future regulatory coverage, which might affect broader adoption and stability of the crypto market.
Because the 2024 elections method, the intersection of political discourse and cryptocurrency continues to draw consideration.
Whereas Musk has denied any cryptocurrency talks with Trump, the potential for collaboration between the 2 influential figures stays the topic of a lot curiosity and hypothesis.
