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Elon Musk Asserts Fiat Is ‘Hopeless’, Confirms His New America Party Will Embrace Bitcoin

2025-07-07 18:48:02

Main Idea

Elon Musk criticizes fiat currency as 'hopeless' and confirms his openness to Bitcoin, while his relationship with cryptocurrencies, including Tesla's significant BTC holdings, is highlighted.

Key Points

1. Elon Musk stated that fiat currency is 'hopeless' and confirmed his willingness to accept Bitcoin, responding to a query about the America Party's stance on crypto.

2. Musk's America Party emerged from a public disagreement with President Donald Trump over the 'Big Beautiful Bill,' which Musk claims would harm jobs and increase national debt.

3. Tesla holds 11,509 BTC, worth approximately $1.2 billion, as part of its corporate treasury, following a $1.5 billion purchase in early 2021.

4. Adam Back suggested Musk should acquire 1 million BTC to preempt the US government and the Trump family in their ongoing conflict.

5. Musk previously referred to himself as the 'Dogefather,' which significantly influenced Dogecoin's price surge in 2021.

Description

Tesla CEO and multipreneur Elon Musk confirmed on Sunday that the ‘America Party’, a pro-tech centrist party he intends to form after his short-lived alliance with US President Donald Trump ended, would accept Bitcoin (BTC). “Fiat is hopeless, so yes,” Musk replied to an X user who asked if the America Party would embrace the premier crypto. Fiat is hopeless, so yes — Elon Musk (@elonmusk) July 7, 2025 The so-called America Party was formed out of a public rift between Musk and President Donald ...

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Bitcoin News Bitcoin News Elon Musk
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