Elon Musk Shoots Down Trump Crypto Talk Rumors

Recently, Bloomberg reported that Elon Musk has been meeting with President Trump and advising him on cryptocurrency policies.

The original article said:

Elon Musk and Donald Trump are discussing cryptocurrency policy as the former president increasingly highlights Bitcoin and other digital assets on the campaign trail as a way to reach new voters, according to a person familiar with the talks.

Trump campaign officials have also talked about the possibility of inviting Musk to speak at the Republican convention, according to a person with knowledge of those discussions, but are still far from making a final decision. The person familiar, who spoke on condition of anonymity to detail the talks, did not know if anyone had yet broached the subject with Musk himself.

Here’s what Musk tweeted in response to the reports:

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

Marketwatch writes:

Elon Musk is rebutting a published report that he is discussing cryptocurrency policy with former President Donald Trump, even as the Tesla chief says he’s in favor of what digital assets can do.

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In a post on X, the social-media network he owns that was formerly known as Twitter, the billionaire said he was “pretty sure” he’d never talked about cryptocurrencies with Trump, the presumptive Republican nominee for president.

But Musk added that he’s “generally in favor of things that shift power from government to the people,” which he said he believes cryptocurrency can do.

Musk was responding to a Bloomberg report that said the Tesla CEO and Trump were discussing policy related to crypto as the former president increasingly highlights Bitcoin and other digital assets on the campaign trail.

This update comes as Trump has been pushing Bitcoin lately, and rumors are beginning to swirl of Trump considering an advisory role for Elon Musk in the White House.

CoinJournal notes:

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. He recently even promised to free Silk Road creator Ross Ulbricht if re-elected.

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.

These two together, of course, could move markets.

What do you think?

Would you support Elon Musk in a White House advisory role?

Would he be good for the Trump campaign?

Let us know your thoughts on this and stance on crypto in general in the comments!