Elon Musk Confirms America Party Will Embrace Bitcoin Over Fiat System

• Elon Musk officially links Bitcoin to his new America Party, signaling a departure from traditional fiat systems.
• Tesla and SpaceX maintain significant Bitcoin holdings, reflecting Musk’s long-term confidence in digital assets.
• Bitcoin price reacts to Musk’s support, climbing past $109K as institutional demand continues to grow.

Elon Musk has confirmed that his newly announced America Party will support Bitcoin adoption as part of its financial agenda. The statement was made in response to X user Renato Lima, who asked if the party would embrace Bitcoin as a hedge against inflation.

According to the exchange, Musk responded, “Fiat is hopeless, so yes,” signaling a clear shift away from traditional currencies. The move places Bitcoin at the heart of the American Party’s economic orientation policy.

Musk has long been active in the crypto industry, and he has often impacted the market trends by publicly supporting a given currency. He had experience with Dogecoin in 2021, when interest after his involvement in the 2021 bull market skyrocketed, subsequent to which, some investors turned their legal attention to it.

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Tesla Inc., one of Musk’s main enterprises, has held 11,509 BTC since February 2021. SpaceX, which is also led by Musk, holds 8,285 BTC, whose cumulative value is well above the $1 billion mark. The holdings indicate long-term trust in Bitcoin’s use as a store of value.

Musk has also confirmed that Tesla might restart taking Bitcoin payments when a customer purchases an electric car. However, this would be determined by the fact that Bitcoin miners use mainly renewable sources of energy.

Musk’s Endorsement Sparks BTC Price Reaction and Market Optimism

Bitcoin’s price reacted quickly to Musk’s endorsement, climbing to a daily high of $109,574 before retreating to around $108,816. The price movement occurred during early London hours and reflects renewed investor confidence.

According to CryptoQuant statistics, the BTC MVRV ratio has been restored to its 365-day average. The indicator suggests additional bullish activities since institutional demand is gaining strength.

MicroStrategy chairman Michael Saylor, an industry observer, sided with Musk. Saylor once again proved that Bitcoin is a financial hope in a period when people are panicking about the stability of fiat.

Incorporation of Bitcoin into the American Party platform brings the digital asset point of view into the realm of mass politics.

Integrating Bitcoin into the American Party’s platform marks a key moment in the intersection of politics and digital finance. Musk’s stance reinforces Bitcoin’s growing relevance as both a financial asset and a policy tool.

Also Read: XRP Forms Historical Pattern That Previously Shot it 600% – Major Breakout Imminent?

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