"Fiat Is Hopeless": Elon Musk Says 'America Party' Will Accept Bitcoin

Elon Musk has proposed his new political vehicle as the 'United States Party', in the context of disagreement with President Trump, confirming that the alternative to the Democratic-Republican monopoly will support Bitcoin. In a thread on X, the CEO of Tesla confirmed that the party will accept Bitcoin, calling fiat "Hopeless."

Musk confirmed for the first time the establishment of his new political party on Saturday, following a poll on X. He stated that the America Party would address the continuously rising national debt, which has persisted regardless of which party is in power. "The United States Party must stand against the unified Republican/Democratic Party," he wrote to his 221.8 million followers. Musk criticized Trump's "big, beautiful" 940-page bill, which proposes tax cuts and broad reductions, warning about job loss and strategic harm, causing conflict with the Trump administration. "When it comes to bankrupting our country through waste and corruption, we are living in a one-party system, not a democracy," he wrote on a different topic. "Today, the Republican Party was founded to return your freedom to you." Meanwhile, Trump posted on Truth Social that a third political party has never been successful in the United States. He said that Elon Musk has completely "gone off track," becoming a 'TRAIN WRECK' in recent weeks. Elon Musk's Party in America and the Relationship Between Bitcoin Musk noted that his party would support Bitcoin and focus on the races for the House and Senate. After confirmation, Bitcoin rose from $108,735.07 to $109,361.29 and is now trading at $109.16 thousand at the time of the press report. Musk has expressed his long-standing views on various cryptocurrencies, particularly Bitcoin and Dogecoin, since 2014. One user called this a "big signal" for Bitcoin, considering Musk's influence on the industry and the current political backing of BTC. Furthermore, the community has been speculating about Elon Musk staking Bitcoin quietly. The rumors began on July 2, when a cryptocurrency-focused X account pointed out Musk's recent silence about Bitcoin. Another user suggested that perhaps Musk is just "silently accumulating BTC."