Musk rejects allegations of advising Trump on crypto

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Elon Musk denied the claims that he’s a crypto advisor for Donald Trump’s presidential campaign mentioned in a recent Bloomberg report.

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

According to Bloomberg, the tech mogul and Trump have engaged in discussions about crypto, as the US presidential candidate emphasizes digital assets to attract voters for his campaign.

The report also shared that communication between both parts has become more frequent in recent months “as the campaign ramps up their reliance on Musk for insight about cryptocurrency.”

Moreover, the Wall Street Journal reported on Wednesday that Trump was considering Musk as his policy adviser. Despite being indirectly favorable for crypto, as Musk is fond of digital assets, the report didn’t connect Tesla’s CEO and the blockchain industry.

Despite looking down on crypto in the past, Trump has been heavily relying on crypto-friendly voters recently. The presidential candidate vowed to end hostility against the digital asset landscape in the US if elected and stated that he is “very positive and open-minded” to crypto companies, and advocates for US leadership in the crypto industry.

Moreover, the presidential candidate started accepting donations paid in crypto for his campaign. This movement is receiving significant support from Ryan Selkis, founder and CEO of Messari, who posted about it through his X profile in the last few days. Selkis shared that Trump “spoke very highly about crypto” in an event at Mar-a-Lago resort, where the presidential candidate resides.

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