Elon Musk, CEO of Tesla and SpaceX, has addressed a report suggesting that he advised former U.S. President Donald Trump on various matters, including cryptocurrency.

According to Bloomberg, Musk and Trump have been discussing cryptocurrency policy, with Trump increasingly promoting bitcoin and other digital assets on the campaign trail to appeal to new voters. Musk responded by stating that he is "pretty sure" he has never discussed crypto with Trump. However, he expressed general support for initiatives that empower individuals over governments, which he believes crypto can achieve.

Trump has recently been actively engaging with crypto voters, signaling a shift in his stance. As president, he expressed skepticism towards bitcoin and other cryptocurrencies, calling them volatile and lacking intrinsic value. However, at a recent Libertarian National Convention, Trump pledged to support crypto and bitcoin's development within the United States, emphasizing the importance of self-custody and opposing the creation of a central bank digital currency (CBDC). He also promised to support Ross Ulbricht.

Furthermore, Trump's campaign has started accepting crypto donations through Coinbase, and he has been referred to as America's first crypto president by former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo. Since leaving office, Trump has launched three non-fungible token (NFT) collections and has acknowledged bitcoin's popularity.

On the other hand, Musk has previously disclosed his ownership of bitcoin, ether, and dogecoin. He has been a vocal supporter of dogecoin, earning the nickname "Dogefather" in the crypto community. While Tesla and SpaceX also hold bitcoin, Musk clarified that he doesn't spend much time thinking about cryptocurrencies and reiterated that his companies wouldn't create their own crypto tokens.