- Elon Musk has denied having mentioned cryptocurrency with President Trump amid hypothesis.
- Lately, President Trump has been actively selling Bitcoin (BTC) as a technique to entice voters.
- There was hypothesis that Musk might function an adviser to President Trump's 2024 presidential marketing campaign.
Tesla and SpaceX CEO Elon Musk strongly denied studies in a publish on SpaceX that he had mentioned cryptocurrency with former President Donald Trump.
The denial comes amid rising hypothesis and a number of studies that the 2 influential figures have been discussing cryptocurrency-related issues.
I don't suppose I've mentioned cryptocurrency with Trump, however I'm typically in favor of transferring energy from the federal government to the folks, and cryptocurrency permits that to occur.
— Elon Musk (@elonmusk) Might 30, 2024
Bloomberg reported that Musk has suggested Trump on cryptocurrencies.
The controversy started after a Bloomberg report recommended Musk had been advising President Trump on crypto coverage, sparking important curiosity and hypothesis within the media and throughout the crypto group.
Including gas to the hearth, DogeDesigner, a outstanding determine within the cryptocurrency group, tweeted that Musk and President Trump mentioned cryptocurrency coverage.
These rumors emerged as Trump, the front-runner for the 2024 Republican presidential nomination, has been a vocal proponent of Bitcoin and different digital property throughout his marketing campaign, even going as far as to lately promise to free Silk Street founder Ross Ulbricht from jail if he’s re-elected.
President Trump has known as cryptocurrency a strategic asset for the US and careworn that the U.S. should be a pacesetter within the discipline. The president's private crypto holdings are reported to exceed $10 million, and the MAGA token related along with his election marketing campaign lately hit an all-time excessive of $15.4.
Much more intriguing, The Wall Road Journal reported on Might 29 that Trump is contemplating probably bringing Musk on as an advisor if he wins the 2024 presidential election. The article highlighted that Musk and Trump, who beforehand had a tense relationship, have been holding political discussions on numerous coverage proposals, together with immigration and cryptocurrency.
Nonetheless, whereas Musk made it clear that he wouldn’t be donating to any presidential campaigns, he has reportedly knowledgeable President Trump of his intention to host an occasion aimed toward discouraging rich supporters from endorsing Joe Biden.
How Elon Musk's relationship with Trump will affect cryptocurrency
The creating relationship between Musk and President Trump may have important implications for the cryptocurrency market, as each have the facility to considerably affect public attitudes in direction of digital currencies.
Their dialogue, and Musk's constructive stance on cryptocurrencies, might sway investor sentiment and form future regulatory coverage, probably influencing the broader adoption and stability of the cryptocurrency market.
Because the 2024 election approaches, the intertwining of political discourse and cryptocurrencies continues to achieve consideration.
Though Musk has denied having any discussions with President Trump about cryptocurrency, a doable collaboration between the 2 influential figures stays a topic of nice curiosity and hypothesis.
