Elon Musk Cryptocurrency Update: TSLA Creator Claims U.S. Political Party Will Adopt BTC as ‘Fiat Currency Is Futile’

Elon Musk’s ‘America Party’, a pro-tech centrist party the Tesla and SpaceX founder plans to form after his split from President Donald Trump, would embrace bitcoin. Musk mentioned on X that the America Party will support Bitcoin.

Musk has been a long-time supporter of cryptocurrencies, with SpaceX and Tesla both holding BTC in their corporate treasuries. The America Party emerged from a rift between Musk and President Trump over the ‘Big Beautiful Bill’, which Musk criticized as fiscally irresponsible, labeling it the “debt slavery bill”.

Musk envisions the party, which has not yet been officially registered, as pro-tech, pro-free speech, and anti-regulation, with centrist policies in other areas. Currently, the America Party doesn’t have an official website, so details about its political ideology come from Musk’s posts and re-tweets from supporters. Musk has clarified that when the party is formed, it won’t immediately run a Presidential candidate but will focus on House and Senate races.

Trump, for his part, stated in a Truth Social post Sunday evening U.S. time that Musk had gone “off the rails” and had become a “TRAIN WRECK.”