Elon Musk Confirms That The New "America Party" Will Adopt Bitcoin🤑💸💥

Elon Musk announced on Sunday the establishment of a new political party, telling one of his followers on platform X that the party will embrace Bitcoin because "fiat money is hopeless."

Musk's relationship with Bitcoin has long been known, as Tesla was one of the first companies to adopt the currency and hold it in its reserves.$BTC

In 2021, under his leadership, Tesla purchased Bitcoin worth $1.5 billion, becoming one of the first publicly traded companies to hold Bitcoin in its reserves.

Tesla currently holds 11,509 Bitcoins, equivalent to about $1.26 billion, making it the ninth largest publicly traded company by the size of its Bitcoin holdings, according to Bitbo data.

Musk has also supported Dogecoin over the years, with his tweets causing surges or sharp drops in the price of this meme-inspired cryptocurrency.

Samson Mow, founder of Jan3, stated that Musk's embrace of Bitcoin could give him an advantage in his ongoing feud with Donald Trump, adding that Tesla should return to accepting Bitcoin as a payment method and that SpaceX should offer discounts to customers who pay with Bitcoin.#BTCWhaleMovement