Elon Musk denies crypto talks with Donald Trump amid advisor speculations

Musk has denied claims that he discussed cryptocurrency with Trump, despite ongoing speculation and reports suggesting otherwise.

Elon Musk used X (formerly Twitter) to deny reports suggesting he talked about crypto with Donald Trump, the leading candidate for the 2024 Republican presidential nomination.

In a post about

The Tesla CEO responded to a Bloomberg report claiming Musk was advising Trump on crypto-related issues, sparking significant interest. The report also discussed the possibility of Musk speaking alongside Trump at the upcoming Republican National Convention.

These reports come as Trump increasingly promotes Bitcoin and other digital assets on the campaign trail. Trump sees Bitcoin and other cryptocurrencies as a way to appeal to new voters.

BREAKING NEWS: 🇺🇸 Donald Trump says, “I am very positive and open-minded towards crypto companies.”

“Our country should be a leader in this field. There is no second place.” 🙌 pic.twitter.com/M0cyk8AUyi

— Bitcoin Magazine (@BitcoinMagazine) May 25, 2024

Trump’s crypto assets surpassed $10 million and his MAGA token reached an all-time high of $15.4.

Musk did not respond to reports that he spoke at the Republican convention.

Advisory role

On May 29, The Wall Street Journal reported that Trump thought he could give Musk “a possible advisory role” if he takes back the White House in the November election.

Both men once had a strained relationship but are now engaged in political talks about policy ideas such as immigration and reportedly crypto.

Elon Musk announced that he will not contribute to presidential campaigns in the upcoming elections. But he allegedly informed Trump that he planned to hold events to dissuade wealthy supporters from supporting Joe Biden in November.

This relationship is important for the crypto market, as both Musk and Trump have the potential to influence the public’s attitude towards digital currencies. Their controversy and Musk’s active stance could influence investor sentiment and shape future regulatory policies, impacting crypto’s broader adoption and stability.