New political party of Elon Musk will support Bitcoin
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The Tesla leader distanced Donald Trump due to tax and budgetary issues.
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For Musk, Fíat money has no future.
Elon Musk, the technological tycoon behind companies such as Tesla and Spacex, announced that the political party that will create, America Party, will support the use of Bitcoin (BTC) as part of its agenda. In addition, he described Fíat money as something “without hope.”
The statement, published last night, generated a stir among cryptocurrency enthusiasts and reinforced Musk’s position as a Bitcoin defender, an asset that the businessman has already backed in the past. In fact, Tesla currently maintains 11,509 BTC in its reserves.
The Musk initiative, which took place in response to an X user’s consultation about whether his political party will support Bitcoin, arises amid political tensions, after his break with President Donald Trump.
The businessman, who was a Trump key ally during the 2024 presidential campaign, distanced himself from the White House after disagreements about the Big Beautiful Bill (The great and beautiful bill). This legislation proposes tax expenses and cuts that, according to the Congress Budget Office (CBO), will increase the national deficit by more than 3 billion dollars in the next decade.
Musk, who headed until May 2025 the Department of Government Efficiency (Doge), created by Trump, harshly criticized the law, qualifying it as “disgusting abomination” and pointing out that it contradicts your body’s efforts to reduce public spending.
As Cryptoics reported, the situation climbed up to an intense crossing in social networks between both figures a month ago. At that time, Trump proposed to cancel state contracts with the companies of Elon Musk, and he replied pointing out that the president appears in the archives of Jeffrey Epstein, the financier accused of leading a network of sexual trafficking of minors.
Later, Musk announced his intention to form a new political partyafter conducting a survey on its social network, X, which will show more than 80% support for an alternative to the US bipartisan system.
During the management of the entrepreneur at the head of Doge, drastic cuts were applied, including the elimination of thousands of federal jobs. However, this role also received criticism due to lack of transparency and possible conflicts of interest.
