Bitcoin enters the political arena: Elon Musk's party supports cryptocurrency

Bitcoin received a new boost in political legitimacy after Elon Musk announced that his «Party of America» would officially support the digital asset. This statement reinforces the trend started by Donald Trump and highlights the growing role of cryptocurrencies in US strategic policy.

Nigel Green, CEO of deVere Group, noted that Musk's move means the transition of bitcoin from a peripheral investment asset to a category of politically significant instruments. He recalled that Trump had previously signed a decree on the creation of a Strategic US Bitcoin Reserve, which includes more than 200,000 BTC, an asset equivalent to gold and oil in the national wealth portfolio.

According to Green, bitcoin is becoming not just a market instrument, but a political variable. This changes the approaches of institutional investors, who now have to take into account the political context when evaluating an asset.

Against the background of Musk's statements, the bitcoin exchange rate exceeded $109,000, reflecting his growing sensitivity to political events.