- Crypto wasn’t talked about or mentioned throughout the name between Trump, Musk
- Interview was delayed after Musk claimed X was focused by a DDoS assault – Nevertheless, a Verge report cited an inside supply who claimed Tesla’s CEO was “99% lying”
Elon Musk has lengthy been a really vocal crypto proponent. Recently, nevertheless, he hasn’t been alone, with Donald Trump now totally supporting the asset class too. That is extraordinary, not solely as a result of Trump is a Former U.S President operating for a second time period, but additionally as a result of his newest views on cryptos are a whole pivot from these he held whereas he was within the White Home.
Again then, he referred to as the asset class a “scam,” “not real money,” and a “disaster waiting to happen.” Quite the opposite, he’s now the primary U.S Presidential candidate to simply accept crypto-donations, whereas additionally giving a mainstream platform to Bitcoin mining. In truth, he additionally gave a keynote speech on the Bitcoin Convention in Nashville final month.
That is the explanation why many within the crypto-community anticipated Trump to say one thing concerning the asset class throughout his interview session with Tesla’s Elon Musk on X Areas. Nevertheless, that wasn’t to be.
The previous President didn’t say something about cryptocurrencies. Not one phrase. As a substitute, the interview name was an elaborate dialogue on the standard speaking factors like immigration, the financial system, AI and his rival – Vice President Kamala Harris.
Is that this dangerous information for crypto?
What does this imply although? Properly, not a lot. For Donald Trump, cryptocurrencies are merely a way to an finish – The Presidency. He understands that many crypto holders proper now are single challenge voters, lots of whom will not be pleased with the Biden administration’s nearly antagonistic place in opposition to the crypto-space.
Whereas Trump personally would possibly nonetheless be uncommitted or clueless (Which isn’t precisely a stretch) about crypto, he understands the worth of crypto-holders and the financial would possibly they will convey to the desk. For this reason Trump’s marketing campaign has used the group’s skepticism of Biden to its benefit.
That’s the reason why crypto execs are assembly the Former President at his Mar-a-Lago property, whereas additionally promising to boost over $100 million for his marketing campaign.
Simply because the Former President didn’t speak about crypto throughout his interview with Musk doesn’t imply something. Whereas he most likely nonetheless acknowledges how useful the assist of the crypto-community is, cryptos aren’t precisely a defining electoral challenge simply but. Therefore, it wasn’t value discussing in an interview that was directed at thousands and thousands of different voters too.
Even so, it’s value mentioning that there have been folks betting on the chance that crypto will get a point out throughout the interview name between Musk and Trump. In truth, in keeping with Polymarket, betters have been giving this risk a +65% likelihood, with over $800,000 staked too.
Supply: Polymarket
For sure, it didn’t fairly work out for these guys.
