Elon Musk political party to support crypto
Elon Musk confirms America Party will support Bitcoin, calls fiat hopeless
Elon Musk has confirmed that his newly formed America Party will embrace Bitcoin, calling fiat currencies “hopeless” in a post on X this Sunday.
The Tesla CEO’s endorsement came in response to a user’s question about whether the America Party would officially support Bitcoin, reports The Block.
Musk’s comment reinforces his longstanding interest in cryptocurrencies and positions Bitcoin as part of his broader vision for financial reform in the United States. His public alignment with Bitcoin could further encourage crypto adoption among politically active communities who share concerns about government monetary policies.
America Party challenges bipartisan structure
Musk announced the formation of the America Party on Saturday, following the results of a user poll on X gauging support for a new political movement. Frustrated with what he describes as a “one-party system” masquerading as a democracy, Musk criticized both Republicans and Democrats for enabling excessive government spending. His announcement follows a highly publicized split with President Donald Trump over the $3.4 trillion “Big, Beautiful Bill,” which Musk has labeled a “disgusting abomination.” Musk emphasized that the America Party would focus on restoring fiscal responsibility and serve as a watchdog to prevent future unchecked spending by either political faction.
Early endorsements and Bitcoin integration
The America Party has already attracted attention from high-profile figures like billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci, who have expressed interest in the movement. While the party has launched an official website, it has yet to register with the Federal Election Commission, and detailed operational plans remain undisclosed. The inclusion of Bitcoin as part of the party’s core financial philosophy may attract tech-savvy and crypto-friendly voters, further distinguishing it from traditional political entities. Musk’s strategic push to intertwine technology, financial reform, and political activism signals a new chapter that could reshape voter demographics and challenge the conventional U.S. electoral landscape.
Recently we wrote that X, formerly Twitter, is making a bold move to expand its capabilities far beyond microblogging by preparing to launch in-app investment and trading tools.
