Trump and Elon Musk's X Space Ignores Bitcoin and Crypto

In a recent discussion on X, Trump and Elon Musk covered a lot of ground, but one thing was noticeably missing—any mention of Bitcoin or cryptocurrency. This is surprising, given the growing interest in crypto. In this article, we’ll explore what they talked about instead and what it might mean for the future of cryptocurrencies.

Bitcoin and Crypto Left Out of Trump-Musk X Space Discussion

During an interview with X CEO Elon Musk on Monday evening, former President Donald Trump did not mention Bitcoin (BTC) or any other cryptocurrencies. The extensive two-hour discussion touched on topics such as illegal immigration, economic issues, artificial intelligence, and climate change.

The interview, which drew over 1 million listeners, was delayed by more than 45 minutes. Musk attributed the delay to what he described as a significant DDoS attack on X. He suggested that this disruption was intended to prevent people from hearing Trump’s message.

However, The Verge has raised doubts about Musk’s explanation. A source quoted in the report indicated a "99 percent chance Musk was not truthful" about the attack. Moreover, cybersecurity group Netblocks confirmed that X Spaces was facing international outages but did not verify whether these were caused by a DDoS attack.

High Stakes and Surprising Outcomes: How Bettors Fared in the Trump-Musk Interview Predictions

On Polymarket, bettors estimated a 65% chance that "crypto" would come up during the interview, with over $600,000 invested in that prediction. A separate market focused on the mention of "bitcoin" saw predictions rise to 69% with around $330,000 wagered.

Successful predictions earn $1 in USDC, a stablecoin equivalent to the U.S. dollar, while incorrect guesses receive nothing. Polymarket did not offer markets for mentions of other cryptocurrencies like ether, Solana, or Dogecoin.

Bettors also placed over $250,000 on Trump mentioning "Tesla," with the odds peaking at 79%. However, Trump avoided using the term directly, referring instead to the electric vehicle brand as "your cars."

Other terms that bettors had wagered on, and which Trump did use during the interview, included "MAGA," "illegal immigrant," and "tampon."

One user, identified as 'bama1234,' won just over $1 million by correctly predicting most of the words Trump would or wouldn’t say. The largest profit came from betting that Trump would not mention "crypto," resulting in a payout of $336,918. This user did not foresee Trump's early mention of "MAGA" or his failure to use the term "Trans," which they had anticipated.

What Could be the Impact of this on the Crypto Market?

The absence of Bitcoin and other cryptocurrencies in the Trump-Musk interview, despite significant betting on their mention, could have mixed implications for the crypto market. Given that Polymarket participants had substantial stakes on the mention of "crypto" and "bitcoin," the lack of discussion might suggest a missed opportunity for market visibility and influence. 

Such high stakes reflect a strong expectation that crypto topics would be prominent, and their absence could indicate a broader disinterest or strategic choice by high-profile figures to avoid the subject.

The fact that the crypto terms were not addressed might impact market sentiment by highlighting a disconnect between crypto enthusiasts' expectations and the focus of major discussions. 

This could lead to decreased short-term market enthusiasm if investors and traders interpret the oversight as a sign of diminishing interest or relevance in mainstream media and political discourse.

However, this development could also present an opportunity for the crypto market to reassess and potentially drive more organic, grassroots engagement. 

If the lack of mention in high-profile conversations prompts the crypto community to amplify its presence through other channels, it could foster a renewed focus on fundamental innovation and use cases rather than relying on media validation.

In the longer term, the impact will likely depend on how the crypto community and stakeholders respond to this omission. If the community can leverage other platforms and discussions to maintain visibility and drive engagement, the market may remain resilient and continue to grow, independent of mainstream endorsements.