Does Donald Trump have any love for cryptocurrencies at all?
- Crypto wasn’t mentioned or discussed during the call between Trump, Musk Interview was delayed after Musk claimed X was targeted by a DDoS attack – However, a Verge report cited an internal source who claimed Tesla’s CEO was “99% lying”
Elon Musk has long been a very vocal crypto proponent. Lately, however, he hasn’t been alone, with Donald Trump now fully supporting the asset class too. This is extraordinary, not only because Trump is a Former U.S President running for a second term, but also because his latest views on cryptos are a complete pivot from those he held while he was in the White House.
Back then, he called the asset class a “scam,” “not real money,” and a “disaster waiting to happen.” On the contrary, he is now the first U.S Presidential candidate to accept crypto-donations, while also giving a mainstream platform to Bitcoin mining. In fact, he also gave a keynote speech at the Bitcoin Conference in Nashville last month.
This is the reason why many in the crypto-community expected Trump to say something about the asset class during his interview session with Tesla’s Elon Musk on X Spaces. However, that wasn’t to be.
The former President did not say anything about cryptocurrencies. Not one word. Instead, the interview call was an elaborate discussion on the usual talking points like immigration, the economy, AI and his rival – Vice President Kamala Harris.
Is this bad news for crypto?
What does this mean though? Well, not much. For Donald Trump, cryptocurrencies are merely a means to an end – The Presidency. He understands that many crypto holders right now are single issue voters, many of whom are not happy with the Biden administration’s almost antagonistic position against the crypto-space.
While Trump personally might still be uncommitted or clueless (Which isn’t exactly a stretch) about crypto, he understands the value of crypto-holders and the monetary might they can bring to the table. This is why Trump’s campaign has used the community’s skepticism of Biden to its advantage.
That is the reason why crypto execs are meeting the Former President at his Mar-a-Lago estate, while also promising to raise over $100 million for his campaign.
Just because the Former President didn’t talk about crypto during his interview with Musk doesn’t mean anything. While he probably still recognizes how valuable the support of the crypto-community is, cryptos aren’t exactly a defining electoral issue just yet. Hence, it wasn’t worth discussing in an interview that was directed at millions of other voters too.
Even so, it’s worth pointing out that there were people betting on the possibility that crypto will get a mention during the interview call between Musk and Trump. In fact, according to Polymarket, betters were giving this possibility a +65% chance, with over $800,000 staked too.
Source: Polymarket
Needless to say, it didn’t quite work out for these guys.
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