ILON Mask:"Crypto by its very nature helps with individual freedom"

"I think cryptocurrency is an interesting and probably valuable bulwark against centralized control," Musk said, speaking at a campaign rally for former U.S. president Donald Trump in Pittsburgh when asked by an attendee whether the cryptocurrency XRP could be incorporated into the financial system.

"Crypto by its very nature helps with individual freedom"

Musk later said he "wasn't actively involved in crypto," dodging a question about whether blockchains, the technology that underpins bitcoin and other cryptocurrencies, could be used in future elections to reduce or eliminate voter fraud.

Musk was a key driver of the Covid-era bitcoin and crypto market boom, posting regularly about bitcoin and crypto but has more recently directed his attention toward criticism of the U.S. spending, repeatedly warning the U.S. is hurtling toward the brink of "bankruptcy."

Musk has agreed to lead a so-called Department of Government Efficiency that has been suggested by Trump, calling it Doge—a reference to the meme that's also the basis of the dogecoin cryptocurrency.

The dogecoin cryptocurrency, a tongue-in-cheek rival to bitcoin that's been semi-adopted by Musk over recent years, has seen its price soar 25% this last week on the back of Musk's Doge department comments—which caused billionaire Mark Cuban to joke that Musk could put "dogecoin in the U.S. Treasury," if Donald Trump retakes the White House next month.