Elon Musk has shared his view that the newly proposed America Party would embrace Bitcoin, reflecting his long-standing skepticism of fiat currency. The remark came during an exchange on X (formerly Twitter), where Musk replied to a follower’s question by saying, “Fiat is hopeless, so yes”, when asked if the party would adopt Bitcoin.

 

A Political Shift Rooted in Monetary Criticism

Musk’s comment came amid growing criticism of the U.S. political and financial system. He recently opposed Donald Trump’s $3.3 trillion spending bill, calling it “utterly insane and destructive”. Following this, Musk proposed forming the America Party to challenge what he describes as the Democratic-Republican duopoly. A poll on X drew over 1.24 million votes, with nearly two-thirds in favor. However, no official filing with the Federal Election Commission has been confirmed.

Source: Elon Musk

 

Musk’s History with Bitcoin

Elon Musk is no stranger to Bitcoin or digital assets. Under his leadership, Tesla purchased $1.5 billion worth of Bitcoin in 2021, making it one of the first major public companies to do so. While the company later sold off a portion, it still holds over 11,500 BTC, now valued at approximately $1.26 billion.

In parallel, Musk has long supported Dogecoin, another cryptocurrency, often moving its price with single tweets. But his stance on Bitcoin has evolved. In 2021, he criticized its energy use and claimed its price was too high, which briefly impacted market sentiment. More recently, however, he’s appeared more receptive, entertaining the use of the Lightning Network for faster payments, and now signaling a formal political alignment with Bitcoin.

 

Political Fallout and Party Prospects

The announcement has already drawn attention from major political figures. Former President Trump, in particular, has criticized Musk for introducing a third-party threat that could divide the Republican vote ahead of the 2026 U.S. midterm elections. The feud between the two has been escalating over policy differences, with Musk openly questioning the rationale behind Trump’s financial decisions, especially regarding national debt.

While the formation of the America Party is still in its early, informal stages, the statement about embracing Bitcoin has already created ripples. Industry voices like Samson Mow, founder of Jan3, have even suggested this move could offer Musk a political edge, although no official policy frameworks or party infrastructure have been shared by Musk at this time.

 

Looking Ahead

Musk’s casual remark about the America Party embracing Bitcoin has sparked serious conversation, not because it confirmed anything official, but because it taps into a broader shift already underway. Traditional fiat currencies, especially the U.S. dollar, are inherently inflationary. Governments come and go, but the pattern stays the same: whenever crises hit or votes need winning, the money printer is back on. Over time, this erodes purchasing power, and people, especially younger, digitally native generations,  are starting to notice.

As financial literacy spreads, more individuals are making independent investment choices. Bitcoin, as this generation’s fastest-growing digital asset, continues to attract attention not just from investors but now from political figures too. We’ve seen politicians add “pro-Bitcoin” to their campaign identity, and Musk joining that chorus, even casually, is another data point in that trend.

Still, the question lingers: is this a genuine signal of future alignment, or just a political moment crafted for engagement? If Musk were to seriously back Bitcoin through a formal party platform, it could push the narrative to a level we haven’t seen before. Bitcoin’s price has historically reacted to institutional acceptance, imagine what political integration could do. It would be more than bullish; it could be the perfect catapult. But until words turn into policy, it remains just that, potential.