Elon Musk 'Generally' Favors Digital Assets, But Denies Talking Crypto With Trump

Tech titan Elon Musk on Thursday clarified that he has never talked about cryptocurrencies with ex-President Donald Trump after a report said that the two prominent figures discussed digital assets.

The Bloomberg report, which cited a person familiar with the talks, said Musk and Trump were discussing crypto "policy" as part of his campaign's efforts to highlight Bitcoin and other digital assets in the lead-up to the 2024 elections. The story was titled "Musk Counsels Trump on Crypto in Sign of Billionaire's Sway."

The report further noted that the Republican presidential candidate was considering to have Musk, a well-known fan of the world's largest memecoin Dogecoin (DOGE), speak at the GOP convention. The person familiar reportedly said it was unclear if the matter has been raised to Musk.

As per the report, the developments demonstrate how Musk, "who has weighed in on elections and whose companies boast federal contracts and have bristled at government regulations, is wielding his significant political influence."

Responding to a post on X (formerly Twitter) that featured a screenshot of the Bloomberg story, the founder of SpaceX said he was "pretty sure" he hasn't discussed the crypto industry with the Bitcoin-critic-turned-crypto-supporter.

He went on to say that he is "generally in favor of things that shift power from government to the people, which crypto can do."

News of the supposed crypto talks between the two influential names came after it was reported that Musk and Trump were in talks for a possible advisory role for the Tesla CEO if the GOP candidate secures a win in the upcoming elections.

Among the topics central to the discussions were reportedly the economy and border security – two issues that the tech magnate has been very vocal about.

Musk has been vocal about his views on politics. Back in 2022, he said he believes a "less divisive candidate" would be a better frontrunner for the November 2024 elections. He also said at the time that Trump's banned X account should be restored.

The tech mogul previously said he would likely not make financial donations to any campaigns, not for the incumbent President Joe Biden, nor for Trump. On the other hand, he did attend a breakfast gathering that Trump hosted in Florida in March, which the X owner said was "just breakfast."

Both Trump and Musk have yet to make significant moves in the crypto industry, but both have also been expressing support for the sector, especially the ex-president, in recent weeks.