Tesla CEO Elon Musk has announced that his newly launched political movement, the “America Party,” will officially support Bitcoin, taking another step in his ongoing critique of fiat currency.
Responding to a question on X over the weekend, Musk confirmed the party’s crypto-friendly stance with a brief but telling reply: “Fiat is hopeless, so yes.”
The comment adds another layer to Musk’s broader political message, which aims to shake up the traditional two-party system in the United States.
A new Party, a familiar message
Musk revealed the formation of the America Party on Saturday through a post on X, following a poll gauging support for an alternative political movement.
The tech billionaire framed the party as a response to what he sees as bipartisan failure in Washington.
“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” he wrote. “Today, the America Party is formed to give you back your freedom.”
The announcement came just days after a highly public disagreement with President Donald Trump over the $3.4 trillion spending package, dubbed the “Big, Beautiful Bill.”
Musk, who previously chaired the satirical Department of Government Efficiency (DOGE), called the legislation a “disgusting abomination” and blamed both major parties for contributing to the country’s ballooning deficit.
Musk has floated a focused electoral strategy, suggesting that targeting a handful of Senate and House seats could give the America Party real leverage on Capitol Hill.
“Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws,” he wrote.
Bitcoin finds a political home
Musk’s support for Bitcoin under the America Party umbrella signals a clear intent to bring crypto into the mainstream political conversation.
While the party has yet to be registered with the Federal Election Commission, the movement already has a website and growing interest from figures like Mark Cuban and Anthony Scaramucci.
Trump, for his part, dismissed Musk’s third-party ambitions in a Truth Social post, arguing that no third party has ever succeeded in U.S. history.
Still, Musk’s influence and digital reach may test that theory in the upcoming election cycles, especially now that Bitcoin has been added to the mix.
