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 billionaire, in another escalating feud with Trump, suggests that crypto could be part of his plan to disrupt American politics.

Tesla CEO and tech entrepreneur Elon Musk has confirmed that his newly formed political party — the America Party — will accept Bitcoin. “Fiat is hopeless, so yes,” Musk replied to an X user who asked if his new party would embrace Bitcoin.