Bitcoin A No Show: Elon Musk Interview Sends Donald Trump-Themed Memecoins Crashing

Elon Musk's X Spaces interview Monday night with Republican presidential candidate Donald Trump was the most talked about event the next day as the two discussed various topics, including immigration, economy, and politics. However, the interview left many cryptocurrency users disappointed, as neither Bitcoin nor crypto were mentioned.

A 'missed opportunity' to highlight $BTC?

Monday night's interview went on for about three hours due to a 40-hour delay. For one user, the discussion could've been "a perfect time to discuss Bitcoin reserve," especially since they already touched on the matter of government spending. "I hate that Elon hasn't been orange pilled yet," the user said, a metaphor Bitcoiners use to describe the process of discovering $BTC's unique characteristics as opposed to fiat money.

Many other users agreed that it was a "missed opportunity" for the two influential figures to discuss the potential and benefits of the world's top digital asset.

One user said he believes Trump "would have loved to talk $BTC" but it could have been Musk, X's owner, who decided not to mention the digital currency "for the love of his #Doge." The tech titan recently reaffirmed he is a huge fan of $DOGE, the top memecoin in the crypto space.

The world doesn't revolve around Bitcoin

Despite a generally disappointed crowd of crypto users due to the absence of Bitcoin in the interview, many users were understanding.

One user said there were "more pressing things" outside crypto that had to be in the spotlight during the discussion.

Another user noted that Trump and Musk discussed "more important things than crypto." He noted that the SpaceX founder may have not allowed crypto talks, as "he has made that mistake several times already." The said user may have referred to a 2022 Bloomberg TV interview wherein he was caught off-guard by a question on his supposed support for crypto.

In the said interview, Musk was asked about his tweet in support of a specific digital asset, even as he has "seen the kind of carnage that has been happening with cryptocurrencies at the moment." At the time, the industry was starting to crumble as controversies around FTX emerged.

Not the right platform

Amid the many comments from Bitcoiners regarding their disappointment about Trump not talking about $BTC, one commenter raised a critical question: "Are you getting it? It wasn't a Bitcoin audience."

Millions of people tuned in to the Spaces, and many of them were from different walks of life. There were journalists, businesspeople, voters, and regular Americans who may or may not have invested in Bitcoin at all.

Where Bitcoiners are coming from

The expectations from $BTC holders and advocates may be rooted in the GOP presidential candidate's promises toward the Bitcoin community during his much-anticipated appearance at the Bitcoin 2024 conference in Nashville last month.

It remains to be seen when Trump will talk about Bitcoin again. He returned to X Monday after repeatedly refusing to use the platform again, even when Musk reinstated his account following his acquisition of the social media platform late in 2022. Trump's X (formerly Twitter) handle was suspended in 2021 due to "the risk of further incitement of violence."

Trump-themed memecoins plunge

Meanwhile, Trump-themed PolitiFi memecoins plummeted Tuesday, including the ever-popular $MAGA coin, which shed over 6% in the last 24 hours, as per data from CoinGecko.

$MAGAA saw the largest drop at 37.2%, followed by $DMAGA, which slumped by over 31%. $TRUMPCOIN was also down by over 19%, and $FIGHT plunged by 17.3% overnight. $BABYTRUMP was the only token in the green among top Trump-based memecoins.