Elon Musk has officially unveiled his new political movement, the America Party, and publicly supports Bitcoin as currency. He confirmed this in his post on X, where he mentioned that there will be no room for fiat currency in the future roadmap of the party.
Musk highlighted the central role of Bitcoin in establishing the America Party’s economic policy for America. He contended that the country needs to chart a new path in diverging from old money policy and outdated money systems.
Musk has had significant involvement in Bitcoin, as his company Tesla bought $1.5 billion worth of BTC in early 2021. This move made Tesla one of the first major companies to possess Bitcoin in its balance sheet reserves.
Tesla owns 11,509 BTC valued at approximately $1.26 billion at current market prices. This makes Tesla the ninth-largest publicly traded firm owning Bitcoin in its treasury in the world.
Cryptocurrency endorsements by Elon Musk have often had mixed and unpredictable impacts on the crypto market. Comments made by him on the internet have seen prices in Bitcoin and Dogecoin skyrocket and plummet suddenly.
Musk connects bitcoin with political vision
Whereas Musk has occasionally questioned Bitcoin in the past, the latest developments indicate that his commitment has been renewed. By linking Bitcoin directly to a political platform, Musk signals long-term intent to reshape national financial policy.
Musk recently conducted a public vote seeking users’ opinions about launching a new political party or not. More than 1.24 million users responded, and almost two-thirds answered “yes,” instigating Musk to go for the America Party.
In response to this support, Musk criticized the current political system for being wasteful and corrupt. He believes the United States operates like a one-party system when it comes to economic mismanagement.
He vigorously criticized Donald Trump’s “One Big Beautiful Bill,” which may increase the country’s debt by $3.3 trillion. Musk described it as reckless action that may have long-term detrimental effects.
The public rivalry between Trump and Musk has amplified, particularly regarding economic policy and opinions about cryptocurrencies. Trump threatened that Musk’s new party may divide conservative votes during the 2026 elections.
Musk’s growing foray into crypto and politics is redefining political and financial debates. America Party can be a viable option for voters seeking change.
