Elon Musk
says Bitcoin will be the foundation of the America Party, traditional currency or fiat is useless,
Elon Musk recently announced his new political party “America Party” and said in response to a question that Bitcoin will be the foundation of this party, because traditional currency or fiat is “useless”.
Musk clarified in his tweet that due to the continuous printing of fiat currency, its future is bleak and Bitcoin could be the solution to this crisis,
He said this in response to a question from a Brazilian Bitcoiner, who asked if the America Party would support Bitcoin. Musk’s answer was, “Yes, Fiat is useless.”
Musk founded the America Party with the idea that this third political force could change the balance of power in Washington by winning a few critical seats in Congress.
He also participated in a survey in which about 65 percent of people expressed a desire for independence from the two-party system.
President Donald Trump criticized the new party and called Musk “on the wrong track,” but Musk’s position remains strong.