Former President Donald Trump's highly anticipated interview with X CEO Elon Musk on Monday evening drew over a million listeners, but failed to mention bitcoin (BTC) or cryptocurrencies despite significant speculation. The wide-ranging conversation, which covered topics such as illegal immigration, the economy, AI, and climate change, was delayed by over 45 minutes due to what Musk claimed was a "massive distributed denial of service (DDoS) attack" on the X platform, a statement that was met with skepticism from The Verge's source and could not be confirmed by cybersecurity watchdog Netblocks.
Prior to the interview, prediction market Polymarket saw bettors assign a 65 percent chance to "crypto" being mentioned, with over $600,000 staked on the outcome. A separate market focused on "bitcoin" peaked at 69 percent, with around $330,000 wagered. However, Trump did not utter either term during the interview, instead referring to Musk's electric vehicle brand as "your cars" when discussing Tesla.
Bettors had also placed significant wagers on various other phrases, including "MAGA," "illegal immigrant," and even "tampon." One user, known as 'bama1234,' successfully capitalized on the betting markets, earning over $1 million by accurately predicting most of the words Trump would or would not say, including a $336,918 profit from betting against the mention of "crypto".
The absence of cryptocurrency discussions comes at a time when the topic has gained traction in political discourse, especially following Trump's appearance at the BTC 2024 conference in Nashville, where he announced his crypto policy. Despite this, cryptocurrencies have remained largely unaddressed in mainstream political events, including the first presidential debate held in June.
As the 2024 election approaches, the lack of dialogue on such a pertinent issue could indicate a broader reluctance among candidates to engage with the complexities of crypto regulation and its implications for the economy. Trump's avoidance of crypto in his conversation with Musk may reflect a strategic choice to focus on more immediate concerns that resonate with his base, rather than delve into the intricacies of digital currencies.
The outcome of this dynamic could significantly impact the future of cryptocurrency regulation and its integration into the broader economic framework of the United States. As the election season heats up, it remains to be seen whether crypto will gain a more prominent place in political discussions or if it will continue to be sidelined in favor of more traditional campaign topics.
