The post Elon Musk’s new ‘America Party’ will embrace Bitcoin, claiming fiat to be ‘hopeless’ appeared on BitcoinEthereumNews.com.

Elon Musk plans to establish a new party called ‘America Party’ to challenge the two-party system in the U.S. He claims the party will support Bitcoin, as he deems fiat to be ‘hopeless.’ On July 7, the tech billionaire and social media platform owner declared on his official X account that his new ‘America Party’ would be the solution to the “centrist” problem in the U.S’ two-party system. Replying to another X user, Elon Musk confirmed that the party would embrace Bitcoin (BTC). “Will America Party embrace Bitcoin?” asked X user Renato Lima. “Fiat is hopeless, so yes,” said Elon Musk in his post. Fiat is hopeless, so yes — Elon Musk (@elonmusk) July 7, 2025 The post garnered major support from cryptocurrency and Bitcoin advocates including Bitcoin Advocate Max Keiser and Founder of IBC Group and co-founder of NFT Technologies Mario Nawfal. Many crypto figureheads claimed that they would “vote” for Elon Musk’s America Party if it championed Bitcoin. “Crypto could be the strongest tool to fight inflation, and Washington’s addiction to money printing and runaway spending,” said Mario Nawfal in his post. Director of Bitcoin Strategy at Scientific, Joe Burnett, also voiced out his support for Musk’s views on fiat being a hopeless currency. He stated that digital money could be instrumental in creating economic incentives for smaller more efficient government systems. It’s less about politics and more about creating monetary tools that restructure the economic incentives,” Burnett weighed in, replying to Musk’s earlier post. In response to Musk’s idea to form a third political party, his ally-turned-rival President Donald Trump said that Musk had gone “off the rails” in the past few weeks. He said a third party would only serve to create disruption and chaos to the existing system. “He even wants to start a Third…

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Filed under: News - @ July 7, 2025 7:22 am