Elon Musk’s America Party to Embrace Bitcoin, Deepening Crypto Ties

Tesla CEO and tech visionary Elon Musk has confirmed that his new political party, "The America Party" will be accepting Bitcoin.

This was in response to an X user who asked if his new party would embrace Bitcoin, where he answered

"Fiat is hopeless, so yes."

Musk’s Longstanding Relationship with Crypto

Musk was no stranger to Bitcoin, as Tesla was one of the first publicly traded companies to hold bitcoin in its treasury reserves.

Back in 2021, Tesla had already bought $1.5 billion worth of BTC. Today, Tesla holds 11,509 BTC, which has a total worth of approximately $1.26 billion.

Beyond Bitcoin, Musk has also been very closely associated to the Dogecoin. With just one tweet, Musk has the ability to make the the price of Dogecoin to either rally or crash.

Industry leaders, including Jan3 founder Samson Mow, believe Musk’s embrace of Bitcoin could give him a strategic advantage in his ongoing rivalry with former President Donald Trump.

Mow has even suggested that Tesla should resume accepting Bitcoin as payment, and that Musk’s aerospace company, SpaceX, could offer discounts to customers who pay with Bitcoin.

Musk’s relationship with Bitcoin has not always been consistent. In 2021, he remarked that Bitcoin’s price was “too high,” triggering a market dip.

More recently, he has explored the technical challenges of using Bitcoin for payments on Mars, suggesting that a localized Lightning Network could address transaction speed issues.

Political Feud with Trump Intensifies

The launch of the America Party comes amid escalating tensions between Musk and Donald Trump. Their relationship soured over Trump’s “One Big Beautiful Bill,” a sweeping legislative package Musk has criticized as “utterly insane and destructive.”

Musk argues that the bill, which is projected to add $3.3 trillion to the national debt over the next decade, will undermine millions of American jobs and inflict significant strategic harm on the country.

Musk has openly questioned Trump’s commitment to fiscal responsibility, pointing out the contradiction between creating the Department of Government Efficiency (DOGE) to reduce debt and simultaneously passing legislation that dramatically increases it.

Amid this backdrop, Musk has advocated for the formation of a new political party that “actually cares about the people.”

On Sunday, Musk announced the creation of the America Party after more than 1.24 million users participated in a poll on X, with nearly two-thirds supporting the move.

“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.”

Trump has since criticized Musk’s decision to launch a third party, warning that it could split the Republican vote in the 2026 midterm elections.