- During a town hall event, an attendee inquired about Elon Musk’s perspective on the possible institutional adoption of XRP.
- The CEO of Tesla seemed reluctant to address the token specifically, but he broadly highlighted the critical function of cryptocurrency in opposing centralized authority and promoting personal freedom.
Elon Musk Discussed the Prospects for XRP
Recently, Tesla’s CEO Elon Musk participated in a town hall meeting in Pittsburgh, Pennsylvania, representing his political action committee, America PAC, which has ardently backed former President Donald Trump in his efforts to return to the presidency.
At the gathering, a participant inquired about Musk’s views regarding the potential for financial institutions to adopt XRP in the future.
“Considering how harshly the SEC (Securities and Exchange Commission) has treated crypto under this administration, do you see the XRP Ledger being used by financial institutions down the line?” a member of the audience posed to the billionaire.
Musk, affectionately known as “The Dogefather” for his enthusiastic support of Dogecoin (DOGE), surprisingly hesitated to give a direct response. He indicated that he couldn’t comment on a specific cryptocurrency, instead skillfully sidestepping the query by discussing the crypto industry as a whole. Nonetheless, he made it clear that he was neither supporting nor opposing XRP.
The CEO of Tesla noted that cryptocurrency serves as a safeguard against centralized authority and reiterated its significance in securing individual financial liberty.
“I believe cryptocurrency is an intriguing and likely valuable defense against centralized control,” Musk stated. “This is certainly not an endorsement or a rejection of XRP, but I do think that crypto, by its very design, contributes to individual freedom.”
This brief exchange did little to elevate XRP’s profile, yet it highlighted the freedoms offered by cryptocurrency in today’s financial and economic landscape.
America PAC Facing Criticism from Politicians
In relation to America PAC, the organization is currently under fire from Democrats. As reported by the AP, Pennsylvania Governor Josh Shapiro, a former attorney general, criticized the PAC’s commitment to distribute $1 million daily to voters willing to sign a petition advocating for freedom of speech and the right to bear arms—fundamental rights supposedly being undermined by lawmakers and President Joe Biden’s administration under the First and Second Amendments of the U.S. Constitution.
Democratic presidential candidate Vice President Kamala Harris also pledged to investigate potential legal consequences stemming from Musk and his political committee’s attempts to incentivize voters.
When queried about the situation, Trump distanced himself from Musk’s contentious remarks. The Republican presidential candidate stated, “I haven’t followed that.”
