Elon Musk has confirmed that his newly announced political venture, the American Party, will support Bitcoin.
The statement came during a conversation on X (formerly Twitter). There, Musk answered questions about whether the new party would accept major codes.
According to him:
“Fiat is hopeless, so yes (will accept BTC).”
This declaration coincides with Musk’s long-term interest in cryptocurrency. Tesla, othat’s right Musk holds Bitcoin on the company balance sheet.
However, the relationship between masks and Bitcoin is not without controversy.
In 2021, Tesla said it would stop paying Bitcoin for environmental concerns and resume support after at least 50% of Bitcoin mining uses sustainable energy. That threshold was crossed in April 2025, according to data from the University of Cambridge. Still, Tesla has not resumed accepting Bitcoin payments yet.
With this in mind, renowned Bitcoin researcher Daniel Batten has expressed doubts about the integrity of the American Party’s potential Bitcoin agenda, suggesting that it may be politically opportunistic.
Despite skepticism, many Bitcoin advocates have welcomed the mask’s pro-crypto attitude. Supporters believe that party coordination with decentralized finances can appeal to a young, tech-savvy voter base disillusioned with traditional political structures.
The American Party of Mask
On July 5th, Musk officially introduced the American Party in response to what is called Washington’s “one-party system.”
He criticized both Democrats and Republicans for financial mismanagement, arguing that Americans need alternatives to prioritize accountability and efficiency.
“The American Party is needed to fight Republican/Democrat Uniparts.”
According to Musk, the party will strategically target two to three Senate seats and eight to ten House districts. He explained that the goal he explained is to become a legislative tiebreaker that can influence key policy decisions.
Meanwhile, the party’s imminent launch comes amid growing tensions between Musk and US President Donald Trump.
Their dropout was made public last month after Musk criticised Trump-backed spending bills, claiming it would erase the benefits he gained under his short-lived Department of Government Efficiency (DOGE) initiative.
The conflict has expanded into a war of X and true social society words, with both parties consistently opposed to each other.