Elon Musk Declares ’Fiat Is Hopeless’ as Bitcoin Takes Center Stage at America Party
Elon Musk just dropped a financial grenade—calling fiat currency 'hopeless' while Bitcoin steals the spotlight at a high-profile political gathering. The tech billionaire’s latest crypto endorsement sends shockwaves through Wall Street.
Bitcoin’s political coming-out party
The original decentralized currency is now rubbing shoulders with Washington elites. No price predictions or market cap stats—just pure ideological disruption shaking the establishment.
Fiat’s funeral march
Musk’s blunt assessment cuts through central bank spin like a hot knife through quantitative easing. Meanwhile, crypto traders are placing bets on which failing fiat currency will collapse next.
The ultimate hedge against monetary malpractice? Bitcoin keeps proving its worth while politicians keep printing. Some things never change—except your dollar’s purchasing power.
Musk Pitches Bitcoin As Pillar Of America Party
Musk’s brief exchange with Brazilian Bitcoiner Renato Lima crystallized two currents that had been converging for days: the billionaire’s split from President Donald TRUMP over the deficit-ballooning “Big Beautiful Bill” and BTC as an answer to the endless money printing in the fiat money system. The Tesla and SpaceX chief had formally unveiled the America Party on July 5, insisting a third force could win a handful of razor-thin House and Senate races and hold the balance of power in Washington.
In the same July 4–5 burst of posts, Musk polled 1.25 million X users on whether they wanted “independence from the two-party system”; roughly 65 percent clicked Yes. Trump’s rejoinder—calling Musk “off the rails” and a “train wreck” who was angry about lost EV subsidies—only hardened the billionaire’s stance.
Bitcoiners seized the moment. An account styling itself “America Party” replied to Michael Saylor’s ubiquitous BTC-treasury tracker with the slogan, “Some weeks you HODL. Some decades, you need a new political party.” The line went viral, but fact-checkers and community notes quickly flagged the handle as unaffiliated with Musk, underscoring how little formal infrastructure the nascent party actually possesses at the moment.
Still, Musk’s own imprimatur carried more weight than any sock-puppet. Within minutes of the “Fiat is hopeless” tweet, amplification from large crypto accounts pushed impressions past several million, while Bitcoin spiked just above $109,000.
The billionaire’s corporate history lends credibility to his promise. Tesla first added bitcoin to its treasury in February 2021 and, despite later net sales, still holds roughly 11,509 BTC. Musk also enabled (then suspended) Bitcoin payments for Tesla vehicles, citing energy concerns. His new political venture therefore inherits both a reputational stake in the asset and a well-documented willingness to defy orthodoxy—traits that resonate with Bitcoin’s hard-money ethos.
Policy ramifications, however, remain cloudy. The America Party has no platform beyond Musk’s tweets, no officers, and no fundraising committees registered with the Federal Election Commission. Even so, its founder’s pledge to target swing districts means crypto regulation could surface as a wedge issue.
The prospect of another pro-Bitcoin party confronts Donald Trump with an awkward electoral calculus just as his footing in the tech world erodes. Single-issue Bitcoin and crypto voters—crucial to his 2024 win—now see a new banner whose libertarian accents echo their own. Should Musk field candidates in 2026, he could siphon off the very bloc of tech-savvy, anti-establishment voters that buttressed Trump, tipping razor-thin districts and undercutting the president’s power.
At press time, BTC traded at $109,086.
