Elon Musk Counsels Donald Trump on Crypto Policy to Reach New Voters: Bloomberg

Elon Musk and former President Donald Trump are in discussions about cryptocurrency policy as Trump increasingly highlights Bitcoin and other digital assets on the campaign trail, Bloomberg reported today. According to sources familiar with the talks, Trump sees Bitcoin and other cryptocurrencies as a way to appeal to new voters.

JUST IN: Elon Musk and Donald Trump are discussing crypto policy as Trump highlights #Bitcoin and other digital assets as a way to reach new voters — Bloomberg

UPDATE: Elon Musk denies Bloomberg report, stating, "Pretty sure I’ve never discussed crypto with Trump, although I am… pic.twitter.com/4xPR1y9tmY— Bitcoin Magazine (@BitcoinMagazine) May 30, 2024

The discussions with Musk follow Trump’s recent support of Bitcoin and the broader cryptocurrency ecosystem, emphasizing that innovation must happen in America. “Our country must be the leader in the field. There is no second place,” he stated.

Trump has also seen big support from Bitcoin and crypto industry leaders, attempting to raise millions in donations to support him and his new policies backing Bitcoin.

In addition, the conversations between Trump and Musk reportedly cover ways for Musk to take on a broad advisory role should Trump win a second term in November. The exact format of this potential advisory role is still under discussion, according to the report. 

Trump campaign officials have also considered the possibility of inviting Musk to speak at the Republican convention, though no final decision has been made.

Last Saturday, while speaking at a Libertarian Party convention, Donald Trump said that he "will ensure that the future of crypto and Bitcoin will be made in the USA" and that he "will support the right to self custody to the nations 50 million crypto holders." In addition to this, Trump also pledged to commute the sentence of early Bitcoin pioneer and Silk Road founder Ross Ulbricht to time served if elected President, stating, "He's already served 11 years. We're going to get him home."

BREAKING: ???????? Donald Trump says "I will ensure that the future of crypto and #Bitcoin will be made in the USA"

"I will support the right to self custody to the nations 50 million crypto holders" pic.twitter.com/OSfUL91McJ— Bitcoin Magazine (@BitcoinMagazine) May 26, 2024

UPDATE: Elon Musk denies Bloomberg report, stating, "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."

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