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.
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.
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.
Featured image created with DALL.E, chart from TradingView.com
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