Elon Musk Confirms Crypto Plans For New Political Party

Elon Musk has confirmed that his upcoming new America party is going to be a pro-crypto one. This comes as he criticized fiat currency for not being modern enough, while also touting digital assets as the currency of the future.

This is not surprising as Elon Musk has proven himself to be a passionate crypto lover over the years. What’s more, the asset class has seen a massive wave of success, both in terms of market price and financial use. When you consider the latter, you see that cryptocurrency is being used in a myriad of industries that typically would only use fiat currency. Take gambling, for example. Cryptocurrency offers several benefits to users, such as increased privacy and the chance to make money, and this has endeared it to players. As gambling expert Wilna Van Wyk explains in a recent article, casinos allowing BTC deposits are much more common, which would imply that the asset class has a firm place in the future of the political and economic scene.

This is likely one of the reasons Elon Musk’s new political party is so eager to embrace these developments. In an exchange with another Twitter/X user, Musk said that fiat currency is ‘hopeless’ and thus, will not be a major focal point.

This will not be the first time that Elon Musk has shown a noted interest in the crypto space, as he was one of the early supporters of Dogecoin before its iconic 2020 bull run. His company, Tesla, also announced that it would be accepting cryptocurrency for its goods and services, though this has not been without its issues. As far as many see, Elon Musk has been a champion of the crypto scene, and it seems his support of the asset class is reflected in everything that he does.

It’s known as this point that Elon Musk supports various projects in the ecosystem, but this is on a whole new level. His foray into politics last year shocked some, and while he and former ally Donald Trump have fallen out this year, his crypto ambitions remain.

Much of this division has to do with the signing of Donald Trump’s One Big Beautiful Bill Act, which sees over $3.3 trillion added to the national debt over the next decade, a move that Musk has called unwise.

“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” Musk recently said.

In response, he’s creating a new political party that has already garnered controversy. This is mainly due to the possible implications for voting results in the 2026 midterm elections.

While we will have to wait to see the outcome, there’s a chance this political party will accept cryptocurrency as donations, conduct their general transactions using crypto assets, or invest money in crypto. It will be interesting to see how both Elon Musk’s ambitions and his treatment of the crypto industry fare in the next few months and years.