Elon Musk, the global billionaire, has recently launched his new political party named ‘ The American Party,’ quoting the X post from Beff—e/according to that, the American Party is the solution.
Fiat is hopeless, so yes
— Elon Musk (@elonmusk) July 7, 2025
And in the same thread, Mr. Musk answered the question: Will the American Party embrace Bitcoin? he said yes, terming fiat currency hopeless.
Following the public feud with the sitting president of the United States over a $3.3 trillion spending bill, which Elon criticized as fiscally irresponsible.
It is said the party by Musk will challenge the two-party system, focusing on fiscal responsibility, reduced government spending, and technological innovations.
The confirmation by Musk of the American Party embracing Bitcoin has added one more backing for BTC in the near future, and the move isn’t astonishing as the billionaire has long-term ties and his company Tesla has a good exposure to Bitcoin.
After a few global events, the future roadmap of crypto has now changed, and there are speculations that the total digital assets market might attain a growth of $10 trillion in the next few years.
According to Bitcointreasuries(dot)net, Tesla has 11,509 Bitcoins, which are currently priced at $1.25 billion with an average cost of $33,539 per coin.
It is worth noting that the move of Musk is highly praised by some of them, but few have termed this tactic to boost the business empire, yet there is no such public information.
The market buzz over the Musk and Trump feud
The host of Dave Lee’s YouTube channel wrote in his X post dated July 07, 2025, “ Someone close to the President ought to tell him the truth. Elon isn’t mad about the EV mandate. He’s upset about $5 trillion being added to the federal debt in the next 2 years.”
He added, “ Of all the people close to him, I would expect VP Vance to understand this. He should make sure the President has his facts straight.”
What the heck was the point of @DOGE if he’s just going to increase the debt by $5 trillion??
— Elon Musk (@elonmusk) July 6, 2025
Over the same post, Musk replied, “ What the heck was the point of the DOGE if he’s just going to increase the debt by $5 trillion??”
A quick overview of Bitcoin prices
According to the data from CoinMarketCap, Bitcoin prices grew around 1.12% in the past seven days, and as of writing, it has been trading at $108,873, with a market cap of $2.16 trillion, and trading volume is $39.67 billion, which is up by 32.33%.
In the past few sessions, Bitcoin has seen a strong rebound and in a week it traded near its all-time high, but is now below $100k.
Experts, seeing the growing volume of the market, argue that in the near future, the market is expected to cross the milestone of $200 billion in collective volume, with the majority of the contribution from Bitcoin.
After Trump’s confirmation about his party embracing Bitcoin, it is now speculated that more political parties worldwide could also follow the same path as the American Party.
