Elon Musk has confirmed that his newly announced political venture, the America Party, would support Bitcoin.
The statement came during a conversation on X (formerly Twitter), where Musk responded to a question about whether the new party would embrace the leading crypto.
According to him:
“Fiat is hopeless, so yes [we would embrace BTC].”
This declaration is consistent with Musk’s long-running interest in cryptocurrencies. Tesla, one of Musk’s companies, holds Bitcoin on its balance sheet.
However, Musk’s relationship with Bitcoin has not been without controversy.
In 2021, Tesla halted Bitcoin payments over environmental concerns, stating it would resume support once at least 50% of Bitcoin mining used sustainable energy. According to data from Cambridge University, that threshold was crossed in April 2025. Still, Tesla has yet to restart accepting Bitcoin payments.
Considering this, a prominent Bitcoin researcher, Daniel Batten, voiced doubts about the sincerity of the America Party’s potential Bitcoin agenda, suggesting it may be politically opportunistic.
Despite the skepticism, many Bitcoin advocates have welcomed Musk’s pro-crypto stance. Supporters believe the party’s alignment with decentralized finance could appeal to a younger, tech-savvy voter base disillusioned with traditional political structures.
Musk’s America Party
On July 5, Musk formally introduced the America Party as a response to what he calls 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:
“The America Party is needed to fight the Republican/Democrat Uniparty.”
According to Musk, the party will strategically target just two to three Senate seats and eight to ten House districts. The goal, he explained, is to become a legislative tiebreaker capable of influencing major policy decisions.
Meanwhile, the party’s impending launch comes amid growing tensions between Musk and US President Donald Trump.
Their falling-out became public last month after Musk criticized a Trump-backed spending bill, arguing it would erase gains made under his short-lived Department of Government Efficiency (DOGE) initiative.
The dispute escalated into a war of words on X and Truth Social, with both parties consistently speaking against each other.
