According to a breaking development, billionaire Tesla CEO Elon Musk is advising Donald Trump on cryptocurrencies during the election campaign.
Elon Musk and former President Donald Trump are in talks about cryptocurrency policy. The dialogue comes as Trump has increasingly emphasized Bitcoin and other digital assets during the campaign in a bid to appeal to a broader base of voters, according to a source familiar with the talks.
Trump campaign officials have also floated the idea of inviting Musk to speak at the Republican National Convention, according to a source familiar with the matter who requested anonymity, but that is still under consideration and no formal invitation has been extended to Musk.
These developments are an indication of Musk's significant political power. Known for his vocal stances on elections and his companies' numerous federal contracts and regulatory challenges, Musk wields his influence in Washington.
Talks between Musk and Trump include the possibility of Musk taking on a broad advisory role if Trump wins a vote of confidence for a second term in November's election. Although exactly what this role will be is still a matter of debate, the Wall Street Journal first reported on these high-level meetings.
Musk attended a Trump fundraiser in March, but later stated that he had no intention of donating to either Trump or President Joe Biden.
UPDATE:
The claim, first reported by Bloomberg, was denied by Elon Musk on X. Musk said that he never discussed cryptocurrencies with Trump, but that he is in favor of things that shift power from the government to the people, including cryptocurrencies.
*This is not investment advice.
