Elon Musk Affirms New America Party Will Welcome Bitcoin
Tesla’s head and technology billionaire Elon Musk has made it official that his freshly established political party, the America Party, will welcome 
Bitcoin ▲0.84%.
In response to an inquiry from an X user about whether his party would adopt Bitcoin, Musk answered plainly:
“Fiat is futile, so yes.” — Elon Musk
Promoted as an escape from the Democratic-Republican duality, the update of the America Party coincided with a sharp rise in Dogecoin. Whether it was mere coincidence or strategic, the indication was clear that Musk continues to possess significant influence in the crypto realm.
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Tesla’s Bitcoin Journey and Musk’s Crypto Influence
In early 2021, Elon Musk created a stir by investing $1.5 billion of Tesla’s reserves in Bitcoin. Today, Tesla’s accumulated 11,509 Bitcoin is valued at approximately $1.26 billion, ranking it ninth among public companies holding digital currency.
Although the company briefly accepted Bitcoin for car purchases, it later halted the initiative due to environmental concerns. Nonetheless, the groundwork for possible future adoption might still exist.
JUST IN: Elon Musk stated that his new political party will support #Bitcoin
“Fiat is futile” pic.twitter.com/LGpFEugTvs
— BTC Magazine (@BitcoinMagazine) July 7, 2025
Musk’s move to establish a new political party arises during rising tensions with former President Donald Trump. The conflict intensified after Trump revealed his “One Big Beautiful Bill,” a proposed economic strategy anticipated to increase the U.S. national debt by $3.3 trillion.
“Completely insane and detrimental.” — Elon Musk
Political Discord with Trump Regarding Crypto and Debt
Musk began to diverge from Trump when he criticized the rationale behind enacting measures aimed at decreasing the debt while simultaneously exacerbating it through such policies.
“In terms of bankrupting our nation with waste & corruption, we are not in a democracy but a one-party system,” Musk stated online shortly after denouncing Trump’s significant ‘Big Beautiful Bill.’
These remarks indicate a wider discontentment with both major political parties, laying the foundation for Musk’s America Party, which he claims is one that “truly cares about the populace.”
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Dogecoin Price Rises on Political Developments
The digital currency market reacted swiftly to Musk’s political news. Dogecoin surged over 5% following the update, climbing from $0.163 to $0.171.
Trading volumes exceeded $1.1 billion, with larger wallets actively acquiring DOGE as smaller investors liquidated their positions.
BTC remains comfortably above $108,000, but the larger context may be geopolitical. Musk’s re-engagement with crypto asset, along with dovish Fed speculation, suggests a buildup of forces that could ignite interest in BTC in the upcoming months.
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Key Takeaways
- Tesla’s head and technology mogul Elon Musk has confirmed the establishment of his new political party.
- Attention is focused on Powell this month as inflation persists and labor indicators weaken.
The post Elon Musk Confirms New America Party Will Accept BTC appeared first on 99Bitcoins.
