Elon Musk rebuts reports he discussed crypto with Trump
Quick Take
- The Tesla CEO was responding to a report claiming Musk counseled Trump on cryptocurrency and discussed having him speak at an upcoming convection.
- “…I am generally in favor of things that shift power from government to the people, which crypto can do,” Musk wrote in a post on X.
Elon Musk rebutted reports that he “discussed crypto” with 2024 Republican presidential frontrunner Donald Trump.
“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,” Musk wrote in a post on X, the social media platform he owns.
The Tesla CEO responded to a post referencing a Bloomberg report, claiming Musk counseled Trump on cryptocurrency and discussed having the billionaire speak at the upcoming Republican national convention. Late Wednesday, The Wall Street Journal reported that Trump was considering a “possible advisory role” for Musk, should the former president reclaim the White House in this November’s election.
According to the report, the two discussed ways for Musk to have "formal input and influence" over economic and border security policies. In March, following a meeting with Trump in Florida, Musk said he aims "to use his clout...to help defeat Biden by galvanizing the support of influential allies," the WSJ said, citing a person familiar with his thinking.
Trump has previously voiced skepticism of cryptocurrencies, but he seems to be changing his tune. Shortly before his scheduled address at the Libertarian National Convention last week, Trump said he’s feeling “positive and open-minded” to the crypto industry. He also endorsed clemency for Ross Ulbricht, who has served 11 years of a life sentence for creating the dark web marketplace Silk Road.
Meanwhile, President Joe Biden’s re-election campaign has begun reaching out to crypto industry players over the past two weeks for guidance on “crypto community and policy,” sources told The Block. The sources noticed a significant “shift” in tone from the Biden administration and campaign toward crypto.
Musk, the world’s richest person, helped dogecoin surge to all-time highs in the summer of 2021 with his frequent tweets and endorsements of the memecoin. This past March, Musk said people would eventually be able to purchase Tesla automobiles with Dogecoin cryptocurrency.
In December 2023, Musk claimed he spends “hardly” any time thinking about cryptocurrency.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
