Elon Musk has launched a new political group called the America Party and voiced strong support for Bitcoin, calling fiat currency “hopeless”. The announcement came after Musk criticised a $3.4 trillion spending bill passed by the United States government. Although Musk’s comments gained support on social media, no formal steps have been taken to register the party, and official filings linking him to it were denied. Tesla has not yet resumed Bitcoin payments despite improved environmental conditions for mining.