Elon Musk recently responded to rumors about conversations with Donald Trump, the front-runner for the 2024 Republican presidential nomination, about cryptocurrencies on x, the platform formerly known as twitter.
The rumor also covered the possibility of Musk speaking with Trump at the upcoming Republican National Convention.
crypto speculation between Trump and Musk
He stated that he does not remember ever discussing cryptocurrencies with Trump, although he generally supports initiatives that empower people over the government, which aligns with the potential of cryptocurrencies.
“I'm pretty sure I've never talked about cryptocurrencies with Trump, although I'm generally in favor of things that transfer power from the government to the people, which cryptocurrencies can do,” Musk posted on x.
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I'm pretty sure I've never discussed cryptocurrencies with Trump, although I'm generally in favor of things that transfer power from the government to the people, which cryptocurrencies can do.
– Elon Musk (@elonmusk) twitter.com/elonmusk/status/1796211398088810731?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>May 30, 2024
Elon Musk also clarified that he will not financially support any of the presidential campaigns, but indicated his intention to organize events that discourage wealthy backers from supporting Joe Biden.
As for rumors that Musk will speak at the Republican National Convention alongside Trump, an official response has not yet been provided.
Thiscrypto-in-sign-of-billionaire-s-influence” target=”_blank” rel=”noopener nofollow”> interaction between Musk and Trump is important for the cryptocurrency market, given its potential to influence public perception and regulatory decisions that affect the adoption and stability of cryptocurrencies.
Possible advisory role for Elon Musk
On a different note, The Wall Street Journal mentioned Trump's contemplation of a possible advisory role for Elon Musk should he win the next election. Despite their past tensions, the two have been discussing various political ideas, including immigration and possibly cryptocurrency issues.
These reports emerged alongside Trump's increasing promotion of bitcoin and other digital assets as part of his campaign strategy to connect with new voter demographics.
Trump reportedly has over $10 million in cryptocurrency assets and the MAGA token hit a record high of $15.4.
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BREAKING: Donald Trump says: “I am very positive and open-minded towards crypto companies.”
“Our country must be a leader in this field. “There is no second place.” pic.twitter.com/M0cyk8AUyi
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1794464661594624027?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>May 25, 2024
bitcoin price rise
Meanwhile, bitcoin has seen a recent rally in its value, seeing a 0.80% increase in the last 24 hours and a 1.80% increase over the past week. This increase has placed its current price at $68,192, with a substantial trading volume of $23 billion.
With a circulating supply of 20 million btc, bitcoin has a significant market capitalization of $1.3 trillion. These figures underline bitcoin's enduring popularity and its position as the market-leading cryptocurrency.
Trump guilty of bribery
Donald Trump has been convicted on all 34 charges of falsifying business records in a criminal scheme to obtain silence aimed at influencing the outcome of the 2016 election. The verdict, reached in less than 12 hours by the jury, marks an unprecedented event in the history of the United States as it is the first criminal trial against a sitting or former president of the United States.
This decision poses a significant political challenge for Trump, the likely Republican nominee, whose approval ratings have remained stable throughout the trial but could face volatility in the near future.
After deliberations, a jury of 12 New Yorkers found Trump guilty of one felony count of falsifying business records, a charge that prohibits the creation of false record entries with the intent to commit another crime.
Trump's sentencing is scheduled for July 11, marking a pivotal moment in his political and legal career.
Featured image from Getty Images, chart from TradingView
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