%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Elon Musk says his new political party will embrace %Bitcoin (CRYPTO: $BTC ) and other %Cryptocurrencies. Musk's newly formed "America Party" aims to be a pro-technology centrist party that embraces digital assets with a view that "fiat is hopeless," wrote the %Tesla (NASDAQ: $TSLA ) CEO on social media, referring to the U.S. dollar and other fiat currencies. Musk said he is forming the new political party after his public split from U.S. President Donald Trump over the "Big Beautiful Bill" that Musk has criticized as being fiscally irresponsible. It does not come as a surprise that the America Party will support Bitcoin. Musk has long embraced cryptocurrencies, with both SpaceX and Tesla holding Bitcoin on their balance sheets. On social media, Musk said he envisions the new political party, which has not yet been officially registered, as one that promotes technology, free speech, crypto, and anti-regulation. The America Party doesn't yet have an official website, so all that's known about its political ideology comes from Musk's social media posts on X, formerly Twitter, which he owns. Musk has written on X that the party won't immediately run a presidential candidate but rather focus on House and Senate races in the 2026 mid-term elections. Trump, for his part, said on rival social media platform Truth Social, which the president owns, that Musk has gone "off the rails." Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $108,650 U.S., having gained 16% on the year.