Replying to a tweet that questions the America Party’s stance on cryptocurrency, Musk gave a brief answer that indicated his lack of faith in the U.S. dollar. “Will America Pa

Following Musk's confirmation of "America Party" embracing Bitcoin, the cryptocurrency jumped from $108,735.07 to as high as $109,627.25. As per Kraken, Bitcoin was trading at $109,158.81 at press time. Elon Musk 's newly launched "America Party" will embrace Bitcoin, the billionaire tech mogul confirmed.

The America Party has yet to hold a formative congress or issue a specific platform. Little is known about the party’s stance, beyond Musk’s vague comments of a preference for centrism, deregulation, reduction of government spending and support for Bitcoin ( BTC ).