Tesla CEO and tech billionaire Elon Musk has announced the launch of his new political party, the America Party, which will accept Bitcoin as a means for political donations.
Bitcoin for Political Leverage
Musk confirmed on platform X that his party will embrace Bitcoin. His response to a question about cryptocurrency was simple: 'Fiat is hopeless, so yes.' This event underscores the growing role of cryptocurrency in the political sphere of the U.S.
Feud with Trump and America Party Formation
The formation of the America Party came amid a public feud with Donald Trump regarding the budget, which Musk labeled 'destructive'. After a poll where over 1.24 million people voted, nearly two-thirds supported the idea of creating a new party, indicating a need for political alternatives for citizens.
Musk's Stance on Bitcoin and Market Influence
Musk has often voiced his opinions on Bitcoin, which Tesla purchased for $1.5 billion in 2021. Despite fluctuating views, his support for Bitcoin for political donations places cryptocurrency at the center of discussions about campaign financing in the U.S.
Elon Musk's decision to accept Bitcoin within his political party, America Party, could significantly influence the future of cryptocurrency in U.S. politics and his relationships with other politicians such as Trump.
