Elon Musk slammed the dollar on social media, calling it and other fiat money “hopeless.” His America Party will embrace crypto, he says. That could set up another area of contention with Donald Trump, who was his political ally for many months before and after the November election.

Elon Musk, the founder of Tesla and SpaceX, has declared that his nascent political movement, the "America Party," will embrace Bitcoin, stating that traditional fiat currency "is hopeless."

Elon Musk said Sunday that his new ‘America Party’ will embrace Bitcoin (CRYPTO: BTC), the world's largest cryptocurrency by capitalization.