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Key Takeaways:
- Elon Musk confirmed the America Party will accept Bitcoin, citing the failure of fiat currency.
- Tesla currently holds 11,509 BTC, maintaining strong crypto reserves under Musk’s leadership.
- The move adds a crypto twist to Musk’s feud with Donald Trump and launches the America Party into the national spotlight.
Tesla CEO Elon Musk has confirmed that his newly launched political party — the America Party — will accept Bitcoin. The revelation came after an X (formerly Twitter) user asked if his party would embrace the cryptocurrency. Musk’s brief but direct response: “Fiat is hopeless, so yes.”
The America Party is the solution https://t.co/KryqdEcqIU
— Elon Musk (@elonmusk) July 6, 2025
Musk Doubles Down on Bitcoin Belief
Musk has long been associated with cryptocurrency innovation and disruption. In 2021, under his leadership, Tesla purchased $1.5 billion in Bitcoin, marking one of the earliest and boldest corporate moves into the digital asset space. Despite mixed reactions over the years, Tesla currently holds 11,509 BTC, valued at roughly $1.26 billion, according to Bitbo. This places Tesla among the top 10 publicly traded companies holding Bitcoin in treasury.
Musk’s influence extends beyond Bitcoin. His tweets about Dogecoin have historically led to dramatic price swings, cementing his role as one of the most impactful voices in the crypto world.
A Strategic Crypto Move Amid Trump Feud
The announcement comes amid a deepening rift between Musk and former U.S. President Donald Trump. Musk has fiercely criticized Trump’s proposed “One Big Beautiful Bill,” calling it “utterly insane” for its potential to increase the U.S. national debt by $3.3 trillion over the next decade.
The feud has sparked discussions on political alternatives, and Musk has responded by launching the America Party, backed by more than 1.24 million X users in a poll. Nearly two-thirds of voters supported the idea of a new party. Musk believes this move offers a true alternative to what he calls a “one-party system” failing the American people.
It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!
— Elon Musk (@elonmusk) June 30, 2025
Time for a new political party that actually cares about the people.
Industry Support and Bitcoin Advocacy
Crypto insiders like Jan3 CEO Samson Mow have praised Musk’s embrace of Bitcoin, saying it could give him a strategic edge over Trump. Mow suggested that Tesla should resume accepting Bitcoin payments and that SpaceX could offer discounts for BTC transactions, reinforcing a broader crypto integration across Musk-led enterprises.
Also Read: Bitcoin Price Tops $100K Amid Adoption Concerns and Macro Tailwinds
Although Musk has previously raised concerns about Bitcoin’s energy consumption and speed, he has shown openness to technological solutions. In 2024, he floated the idea of using a localized Lightning Network on Mars to address transaction delays.
Elon Musk’s commitment to incorporating Bitcoin into the America Party’s platform signals a potential shift in U.S. political discourse around cryptocurrency. As his feud with Trump intensifies, Musk is leveraging his influence and crypto-friendly approach to rally support around a new political vision.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
