Elon Musk confirmed that his newly launched America Party will support Bitcoin. On Sunday, a user on X asked whether the party would embrace Bitcoin.
Musk replied,
“Fiat is hopeless, so yes.”
Elon Musk America Party Embraces Bitcoin. Source: Elon Musk on X (@elonmusk)
The announcement followed a public poll Musk posted on X. Over 1.24 million users voted, with nearly 66% supporting the creation of a new political party. After the poll, Musk announced the formation of the America Party.
He added,
“When it comes to bankrupting our country with waste graft, we live in a one-party system, not a democracy.”
The Elon Musk America Party enters a polarized political climate. Its connection to Bitcoin adoption immediately positioned it within the ongoing debate around economic systems and digital currency.
Tesla Holds $1.26 Billion in Bitcoin
Tesla, under Elon Musk, has a history with Bitcoin. In early 2021, Tesla bought $1.5 billion worth of Bitcoin. That move made Tesla one of the first large public companies to hold Bitcoin.
According to Bitbo, Tesla currently holds 11,509 BTC, worth about $1.26 billion. This makes it the ninth-largest publicly traded company with Bitcoin on its balance sheet. Tesla’s last public BTC update confirmed the holdings remain intact.
Tesla Bitcoin Holdings. Source: Bitbo
The Tesla Bitcoin decision remains one of Musk’s most visible crypto-related actions. The company briefly accepted Bitcoin for payments but stopped later, citing concerns about energy use.
Musk has also regularly tweeted about Dogecoin, causing sharp price moves.
However, Bitcoin politics have remained part of his broader public discussions, especially through his companies Tesla and SpaceX.
Jan3 Founder Says Bitcoin Could Strengthen Musk’s Position
Samson Mow, the founder of Jan3, commented on Musk’s new political effort. He said the America Party Bitcoin stance could give Musk an edge over Donald Trump.
Mow proposed that Tesla should again accept Bitcoin for payments. He also suggested SpaceX offer discounts to users who pay in Bitcoin.
Musk has shared mixed views on Bitcoin in the past. In 2021, he said the price was “too high.” That post coincided with a drop in Bitcoin’s value.
In 2024, Musk said using Bitcoin on Mars wouldn’t work due to slow transaction speeds. Later, he said a localized Lightning Network might help.
The idea of SpaceX Bitcoin payments has not been implemented. However, it remains part of the wider discussion on how Musk’s companies could tie into his Musk political party platform.
Musk and Trump Feud Intensifies Over Debt and DOGE Plan
Donald Trump and Elon Musk have clashed in recent months. Their disagreements grew after Trump introduced the “One Big Beautiful Bill.”
Musk called it “utterly insane and destructive” and said it would result in job losses and “strategic harm” to the U.S.
The proposed One Big Beautiful Bill would increase U.S. debt by $3.3 trillion over the next ten years.
Musk questioned the logic of Trump’s DOGE initiative, which aims to reduce national debt, if the bill would raise it by trillions.
Musk said the U.S. needs a new political group that “actually cares about the people.” This message was followed by his launch of the Elon Musk America Party.
Trump responded by saying the Musk political party could split the Republican vote during the 2026 midterm elections. He warned that the new party might weaken Republican influence.
Crypto and Political Reactions Follow Bitcoin Endorsement
Reactions to the America Party Bitcoin stance surfaced across both political and crypto communities. While Musk did not share a full policy outline, his message pointed to a rejection of fiat systems.
His companies, especially Tesla and SpaceX, remain central to his public identity. Their prior and potential involvement in Bitcoin adoption continues to attract attention.
The use of Bitcoin in politics has remained limited in U.S. elections. Musk’s move links digital currency with party-level policymaking.
As the Trump Musk feud continues, the role of Bitcoin in political campaigns could gain further attention.
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