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Elon Musk is reportedly planning to advise Donald Trump on cryptocurrency policy during the election campaign as he looks to expand his voter base and attract digital asset enthusiasts.
Musk's involvement could help reshape the political conversation, influence tech policy and integrate cryptocurrency advocacy into the Trump campaign.
Elon Musk advises Trump campaign
According to multiple reports, discussions between Trump and Musk's representatives are ongoing, and campaign strategists are also considering inviting Musk to speak at the Republican National Convention. However, sources close to the development said no final decision has been made as of now. The Trump campaign sees Bitcoin and other digital assets as a way to attract new voters. Trump spokesman Brian Hughes said:
“Many of America’s most important leaders in technology and innovation are concerned about the damage Biden’s failures have inflicted on their industries.”
Musk's participation in the Trump campaign, if confirmed, could have a profound impact on the ongoing political conversation thanks to his influence in the technology sector and active engagement in political issues. The discussion with Musk comes after President Trump weighed in on Bitcoin and the cryptocurrency market, saying innovation must come from America.
“I am very positive and open to cryptocurrency companies. Our country must become a leader in this field. There is no second place.”
The conversation between Musk and Trump reportedly also included ways for the Tesla CEO to take on an advisory role if Trump is re-elected. However, the exact nature of that role is still being debated.
Trump's Crypto Pivot
Donald Trump has received significant support from the cryptocurrency industry, with industry leaders attempting to donate millions of dollars to support his campaign and policies in support of Bitcoin. At the Libertarian National Convention last week, Trump said he would ensure that the future of cryptocurrencies and Bitcoin is decided in the United States and that he would support self-custody of the country's cryptocurrency users.
The Republican presidential candidate also pledged to commute the sentence of Silk Road founder Ross Ulbricht if elected president. Trump has been incorporating more cryptocurrency-friendly speeches and messages into his campaign to appeal to voters who prioritize positive regulation and technological innovation.
Musk dodges questions about Trump campaign
In a recent update, Elon Musk denied reports that he was discussing cryptocurrencies with Trump, but added that he favors shifting the balance of power from the government to the people, which is what cryptocurrencies typically do. Musk said this:
“I have never discussed cryptocurrencies with Trump. But I generally favor shifting power from the government to the people, which cryptocurrencies can do.”
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
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