The statement came during a conversation on X (formerly Twitter), where Musk responded to a question about whether the new party would embrace the leading crypto.
According to him:
“Fiat is hopeless, so yes [we would embrace BTC].”
However, Musk’s relationship with Bitcoin has not been without controversy.
In 2021, Tesla halted Bitcoin payments over environmental concerns, stating it would resume support once at least 50% of Bitcoin mining used sustainable energy. According to data from Cambridge University, that threshold was crossed in April 2025. Still, Tesla has yet to restart accepting Bitcoin payments.
Despite the skepticism, many Bitcoin advocates have welcomed Musk’s pro-crypto stance. Supporters believe the party’s alignment with decentralized finance could appeal to a younger, tech-savvy voter base disillusioned with traditional political structures.
On July 5, Musk formally introduced the America Party as a response to what he calls a “one-party system” in Washington.
“The America Party is needed to fight the Republican/Democrat Uniparty.”
Their falling-out became public last month after Musk criticized a Trump-backed spending bill, arguing it would erase gains made under his short-lived Department of Government Efficiency (DOGE) initiative.
The dispute escalated into a war of words on X and Truth Social, with both parties consistently speaking against each other.
