Recently, the cryptocurrency community has been discussing the possibility of Elon Musk supporting Bitcoin in light of his conflict with Donald Trump. Experts express opinions on how this might affect both fronts.
Experts' Recommendations on Supporting Bitcoin
Crypto trader and analyst Will Clemente stated: "The best way for Elon to get back at Trump is by fully supporting Bitcoin." Similarly, JAN3 founder and CEO Samson Mow urged Musk to adopt a Bitcoin treasury strategy, suggesting Tesla accept Bitcoin as payment for cars and launch discount programs for SpaceX customers paying in cryptocurrency.
Musk's Position on Cryptocurrency
Tesla stopped accepting Bitcoin as payment in 2021 due to environmental concerns but continues to hold digital assets. As of the first quarter of this year, the value of Tesla's digital assets dropped by 11.61%.
Conflict Between Musk and Trump
The feud began after Musk left his advisory role to Trump and criticized his tax bill. Both have engaged in public insults on social media, with Trump claiming that terminating Musk's subsidies and contracts would save 'billions of dollars' for the US government.
The situation surrounding Elon Musk and his potential support for Bitcoin continues to evolve. How his plans will reflect on his business and stance in the conflict with Trump remains to be seen.
