According to @MilkRoadDaily, Elon Musk announced on X that his planned 'America Party' will embrace Bitcoin (BTC), stating that 'fiat is hopeless.' This new political party is envisioned to have a pro-tech, pro-free speech, and anti-regulation agenda. Musk, a long-time cryptocurrency supporter whose companies Tesla and SpaceX hold BTC on their balance sheets, is forming the party following a political split. This development could represent a significant step towards political and mainstream adoption of Bitcoin. Currently, Bitcoin (BTC) is trading at approximately $107,927.57, reflecting a slight 24-hour decrease of around 0.93%, while market participants watch for potential impacts from such high-profile endorsements.

According to @rovercrc, Elon Musk has stated on X that his planned pro-tech political party, the 'America Party', would embrace Bitcoin (BTC) because 'fiat is hopeless'. This stance is consistent with Musk's history of crypto support, as both Tesla and SpaceX hold BTC in their corporate treasuries, a significant factor for institutional adoption sentiment. The party, while not yet officially registered, is described as having a pro-tech, pro-free speech, and anti-regulation agenda, which could create a favorable political environment for cryptocurrencies. The initial focus will be on House and Senate races rather than a presidential campaign. In the current market, Bitcoin (BTCUSDT) is trading at approximately $109,429.35, marking a 1.32% increase over the past 24 hours, while several altcoins like Avalanche (AVAXBTC) are showing notable gains of 6.733% against Bitcoin, suggesting positive market reaction.

According to @cas_abbe, Elon Musk has stated on X that his planned pro-tech political party, the 'America Party,' will embrace Bitcoin (BTC), calling traditional fiat currency 'hopeless.' This potential political endorsement from a major public figure could be a significant long-term bullish catalyst for BTC, suggesting a path toward greater political and institutional adoption in the U.S. Musk's companies, Tesla and SpaceX, already hold BTC in their corporate treasuries, reinforcing his pro-crypto stance. The news emerges as Bitcoin (BTC) trades around $109,500, up over 1.3% in the last 24 hours, with the development potentially adding to positive market sentiment.