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Bitcoin News Elon Musk America Party

Bitcoin To Anchor America Party—’Fiat Is Hopeless,’ Says Elon Musk

Jake Simmons
by Jake Simmons
1 month ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Five hours after declaring on X that “The America Party is the solution,” Elon Musk faced a follower’s blunt question: would his just-minted political vehicle back Bitcoin? Musk’s answer landed three hours later and rocketed across crypto Twitter in seconds: “Fiat is hopeless, so yes.”

Musk Pitches Bitcoin As Pillar Of America Party

Musk’s brief exchange with Brazilian Bitcoiner Renato Lima crystallized two currents that had been converging for days: the billionaire’s split from President Donald Trump over the deficit-ballooning “Big Beautiful Bill” and BTC as an answer to the endless money printing in the fiat money system. The Tesla and SpaceX chief had formally unveiled the America Party on July 5, insisting a third force could win a handful of razor-thin House and Senate races and hold the balance of power in Washington.

In the same July 4–5 burst of posts, Musk polled 1.25 million X users on whether they wanted “independence from the two-party system”; roughly 65 percent clicked Yes. Trump’s rejoinder—calling Musk “off the rails” and a “train wreck” who was angry about lost EV subsidies—only hardened the billionaire’s stance.

Related Reading: Why Satoshi-Era Bitcoin Are Relevant To Market Dynamics — Analyst Explains

Bitcoiners seized the moment. An account styling itself “America Party” replied to Michael Saylor’s ubiquitous BTC-treasury tracker with the slogan, “Some weeks you HODL. Some decades, you need a new political party.” The line went viral, but fact-checkers and community notes quickly flagged the handle as unaffiliated with Musk, underscoring how little formal infrastructure the nascent party actually possesses at the moment.

Still, Musk’s own imprimatur carried more weight than any sock-puppet. Within minutes of the “Fiat is hopeless” tweet, amplification from large crypto accounts pushed impressions past several million, while Bitcoin spiked just above $109,000.

Related Reading: Bitcoin Crash? That’s Exactly What ‘Poor Dad’ Kiyosaki Is Hoping For

The billionaire’s corporate history lends credibility to his promise. Tesla first added Bitcoin to its treasury in February 2021 and, despite later net sales, still holds roughly 11,509 BTC. Musk also enabled (then suspended) Bitcoin payments for Tesla vehicles, citing energy concerns. His new political venture therefore inherits both a reputational stake in the asset and a well-documented willingness to defy orthodoxy—traits that resonate with Bitcoin’s hard-money ethos.

Policy ramifications, however, remain cloudy. The America Party has no platform beyond Musk’s tweets, no officers, and no fundraising committees registered with the Federal Election Commission. Even so, its founder’s pledge to target swing districts means crypto regulation could surface as a wedge issue.

The prospect of another pro-Bitcoin party confronts Donald Trump with an awkward electoral calculus just as his footing in the tech world erodes. Single-issue Bitcoin and crypto voters—crucial to his 2024 win—now see a new banner whose libertarian accents echo their own. Should Musk field candidates in 2026, he could siphon off the very bloc of tech-savvy, anti-establishment voters that buttressed Trump, tipping razor-thin districts and undercutting the president’s power.

At press time, BTC traded at $109,086.

Bitcoin price
BTC price, 4-hour chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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