Elon Musk confirms ‘America Party’ will embrace Bitcoin because fiat is hopeless

Elon Musk confirmed Sunday that his proposed 'America Party,' an alternative to the Democratic-Republican duopoly, would adopt Bitcoin.

Musk made the statement in response to a user’s question on X about whether the 'America Party' would embrace Bitcoin. He showed agreement and expressed skepticism toward the fiat currency.

Elon Musk on Saturday announced the formation of the 'America Party' in response to Donald Trump's recent enactment of a $3.3 trillion spending bill, which Musk opposes. The announcement followed a public poll via X, which showed major support for the initiative among Musk's followers.

Though Musk has made bold statements, there is currently no indication that he has taken concrete steps toward launching the party.

Data scraped from the US Federal Election Commission (FEC) circulating on X earlier today suggested a filing had been made under the name of "Elon Reeve Musk” for the “America Party.” However, no record exists on the official site, and Musk has publicly denied any connection, claiming the filing was false.