Elon Musk’s America Party to Support Bitcoin
Elon Musk recently confirmed that his newly announced political venture, the America Party, would support Bitcoin. This declaration came during a conversation on X (formerly Twitter), where Musk responded to a question about whether the new party would embrace the leading cryptocurrency.
In his response, Musk stated, “Fiat is hopeless, so yes [we would embrace BTC].” This statement is in line with Musk’s ongoing interest in cryptocurrencies, as Tesla, one of his companies, holds Bitcoin on its balance sheet.
However, Musk’s relationship with Bitcoin has faced controversy in the past. In 2021, Tesla suspended Bitcoin payments due to environmental concerns, stating that it would resume support once at least 50% of Bitcoin mining used sustainable energy. While this threshold was crossed in April 2025 according to data from Cambridge University, Tesla has yet to restart accepting Bitcoin payments.
Following Musk’s announcement about the America Party’s support for Bitcoin, prominent Bitcoin researcher Daniel Batten expressed doubts about the sincerity of the party’s potential crypto agenda, suggesting it may be politically opportunistic.
Despite skepticism from some quarters, many Bitcoin advocates have welcomed Musk’s pro-crypto stance. They believe that the party’s alignment with decentralized finance could resonate with a younger, tech-savvy voter base disillusioned with traditional political structures.
Musk formally introduced the America Party on July 5 as a response to what he perceives as a “one-party system” in Washington. He criticized both Democrats and Republicans for fiscal mismanagement, arguing that Americans need an alternative that prioritizes accountability and efficiency.
According to Musk, the party will strategically target two to three Senate seats and eight to ten House districts. The goal is to become a legislative tiebreaker capable of influencing major policy decisions.
The launch of the America Party comes amid escalating tensions between Musk and US President Donald Trump. Their public falling-out began after Musk criticized a Trump-backed spending bill, claiming it would undermine the progress made under his Department of Government Efficiency (DOGE) initiative. This disagreement escalated into a war of words on X and Truth Social, with both parties exchanging criticisms.
In conclusion, Elon Musk’s America Party’s support for Bitcoin signals a significant development in the intersection of politics and cryptocurrency. The party’s focus on accountability and efficiency, combined with its embrace of decentralized finance, could attract a new demographic of voters looking for alternative political options.