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Elon Musk's Bitcoin Party · Elon Musk Podcast

0:01
Hey everybody. Welcome back to the Elon Musk
0:04
Podcast. This is a show where we discuss
0:07
the critical crossroads that shape SpaceX, Tesla X, The
0:11
Boring Company, and Neurolink. I'm your host, Will Walden.
0:17
Elon Musk has confirmed that he is launching a new political
0:20
party called the America Party, reigniting speculation about his
0:23
next move in both politics and also cryptocurrency.
0:28
Now the decision comes as the United States stares down a
0:31
staggering $37 trillion debt pile that was triggered when
0:36
some are calling a fiscal emergency.
0:40
Musk has used his ex account to sharply criticize the current
0:43
trajectory of U.S. government spending, citing it as his
0:47
reason for splitting from Donald Trump in the Republican
0:51
establishment. Now the question now being asked
0:54
is direct and immediate. Will Elon Musk attempt to
0:57
reshape American politics and the financial system at the same
1:00
time by tying the American party to Bitcoin, not Doge?
1:06
Now Musk's public follow with Donald Trump stems from Trump's
1:09
support of a bill that raised the debt ceiling and expanded
1:12
federal spending. Musk has originally championed
1:15
Trump's return to the White House based on a shared platform
1:18
of fiscal restraint, but broke ranks after Trump endorsed a
1:22
2024 budget that widened the deficit by another $500 billion.
1:29
Musk called the move insane, arguing on X that it would
1:32
bankrupt the country. His tone has turned sharper in
1:35
recent months to especially as federal deficit projections
1:39
continue to climb with no political consensus on cuts or
1:43
restructuring. How the American party appears
1:46
to be Musk's response to what he sees as bipartisan failure.
1:50
He hasn't officially registered the party, but he has already
1:52
started building a public presence around it.
1:55
An unaffiliated account on X, labeled America Party X, has
2:00
circulated pro Bitcoin posts and frequently interacts with
2:03
cryptocurrency influencers, which has amplified theories
2:06
that Musk intends to tie the party's financial ideology to
2:10
Bitcoin and crypto. Now, while the account itself
2:13
disclaims any direct link to Musk, has fueled a stream of
2:17
online discourse tying Musk's monetary beliefs to digital
2:21
currency ideals. Now Musk responded to an ex user
2:25
who asked if the America Party would embrace Bitcoin by writing
2:28
Fiat is hopeless. So yes, a single comment caused
2:32
a sharp spike in the price of Bitcoin, echoing previous price
2:36
swings tied to Musk's past statements about crypto.
2:40
Musk was referring to Fiat currencies, government backed
2:43
currencies that are not tied to any commodity like gold, as
2:47
fundamentally flawed systems. That position aligns with long
2:51
standing criticisms from Bitcoin supporters who argue that the
2:54
dollar's value is manipulated by central banks in unsustainable
2:59
levels of debt. Now let's see, Bitcoin is
3:08
connected to the US deficit increase, and the surge of
3:15
Bitcoin is going to be long term, according to some
3:19
analysts. So nearly $2 trillion added to
3:24
the federal debt in 2024 alone as a sign of monetary
3:28
instability. Of course, there's some
3:31
skepticism that we pointed out that the X account allegedly
3:37
belonging to Musk lacked some verification.
3:42
They've been fabricating images in the past, casting doubt on
3:46
whether the interaction occurred between Elon Musk and his ex
3:49
account. Even without hard proof, though,
3:52
Musk's growing criticisms of government overspending have
3:56
created an unmistakable alignment with the core values
3:59
of the Bitcoin movement. The statements about the US
4:02
dollar and his support for decentralized finance continue
4:05
to energize crypto traders who believe he may fully embrace
4:09
Bitcoin as part of his political message as opposed to Dogecoin.
4:13
And I can understand why. Bitcoin has a much bigger market
4:17
than Dogecoin, and it's more acceptable to use Bitcoin, that
4:22
is, to use doge. So of course he's going to use
4:25
Bitcoin. Now.
4:26
The broader debate about U.S. debt has reached a fever pitch
4:29
across Wall Street, Silicon Valley to the All In podcast,
4:34
host David Friedberg warned the country of a fiscal emergency.
4:40
He's hosted Elon Musk before and also Donald Trump on the
4:44
podcast. And he said that current
4:46
political leaders are ignoring the structural deficit crisis.
4:50
You said that the post COVID stimulus packages and high
4:53
interest rates are accelerating the cost of servicing our debt.
4:58
Interest rates have risen sharply since 2022 as the
5:02
Federal Reserve tried to fight inflation, causing the cost of
5:05
servicing the national debt to increase dramatically.
5:08
In the past fiscal year, though, the US government paid over a
5:11
trillion dollars in interest payments but no political
5:15
consensus on austerity or tax reform.
5:18
The debt ceiling has turned into a recurring crisis point.
5:22
Each increase in the ceiling now introduces trillions more in
5:26
borrowing, compelling investor anxiety about long term currency
5:30
stability. The Musk's statement that Fiat
5:33
is hopeless adds more dimensions to this debate, he suggests, may
5:40
not be just reacting to US fiscal policy, but actively
5:44
proposing an alternative economic framework.
5:47
So Bitcoin could be used in this and in this context, it becomes
5:51
more than just an asset. Like people have it now, they
5:54
hold on to our huddle onto it for a while and make some money.
5:58
Now, truth be told, I do have some Bitcoin holdings and I'm
6:05
happy that Elon Musk and Bitcoin are working together in some
6:09
fashion, or at least there's speculation about it, but it's
6:13
not much, to be honest with you. Anything I make from this show,
6:17
I put a tiny bit of it into Bitcoin for, you know, for later
6:21
on in life, just as a speculative investment or a
6:25
speculative asset. So Bitcoin becomes a policy tool
6:29
for Elon. And if Elon Musk follows through
6:31
on incorporating Bitcoin into his political platform would
6:36
make the American Party the first credible national
6:38
political initiative in the United States to formally reject
6:42
Fiat currency as its foundation. Now, this begs another point.
6:48
If Elon Musk and the America Party are taking Bitcoin
6:53
donations in some way, if that's even possible, how do you track
6:58
those donations? I don't know if you can.
7:03
There's ways to track Bitcoin, but it's very difficult. the US
7:08
government can do it, I know that.
7:10
But will they spend their time and their money and their
7:13
manpower on tracking all of the political donations to Elon
7:18
Musk's American Party? Probably, yes.
7:20
They're afraid of him. The Republicans and the
7:22
Democrats alike, They don't want a third party because they're in
7:26
power right now and they will continue to be in power for the
7:30
foreseeable future until somebody with power, money and
7:35
the right plan comes along and shakes things up.
7:39
And that could be Elon Musk. So we'll see what happens as far
7:43
as Bitcoin and the funding of his party because to be honest
7:48
with you, I'm not Privy to the knowledge of how a political
7:53
party is formed. And then we'll get into that in
7:55
another episode about this whole thing and how the parties are
7:58
formed and what it takes for Elon to actually do this.
8:02
Like where is he going to get the funding?
8:03
Does he fund it himself? Are there outside funders?
8:06
I, I'm not 100% sure, but he is in talks with other people that
8:10
have funded other parties in the past.
8:15
So he will, he'll know that all the information pretty soon and
8:20
we'll bring that to you as well. So far, Musk hasn't confirmed
8:24
any specific policy platforms for the American party beyond
8:28
his condemnation the federal overspending, though the timing
8:32
of the bro pro Bitcoin comments in the emerging network of pro
8:36
crypto messaging around the new party have established a clear
8:39
signal the monetary reform may be central to its identity.
8:43
But also think of it like this. People that hold crypto want to
8:49
make money, so of course they'll make an account that's pro Elon
8:55
and pro the America Party so they can bump up the price of
8:59
Bitcoin and get that massive return because people think that
9:04
Elon Musk is backing Bitcoin, the most powerful, richest
9:07
person in the world outside of the US president.
9:12
Of course the price of Bitcoin is going to go up and of course
9:15
people are going to make money. So that would make sense as well
9:19
if this X account is not from the America party.
9:24
Now I Speaking of Bitcoin and financial things, I asked the
9:33
other day for some help for the channel for the show.
9:37
And if you're a if you're a supporter of this show, and I
9:40
know there are a lot of you out there that are supporters of the
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show and fans of the show and you've already subscribed to the
9:46
show or followed the show and whatever podcast platform you're
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listening on right now. I really want to say that I
9:51
appreciate every single one of you listening every single time.
9:55
It helps out a lot. It helps out a ton.
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If you haven't followed yet, make a a brief second out of
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your life and hit the follower subscribe button right now.
10:06
That really does help the show continue to build momentum
10:10
because we're climbing an uphill battle and it's really tough
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right now financially. If you want to help the show,
10:17
you can donate to the show by using Venmo.
10:24
The Venmo account is at Will Dash Walden.
10:28
Any amount helps, whether it's $1.10 dollars, $100, a $1000,
10:34
anything helps, $5. We had some donations yesterday
10:40
and let me help you remember. Let me help me remember actually
10:48
what they said because I'd like to take a second and see what
10:53
everybody said here. So we had a donation from Jacob,
11:01
didn't say anything other than just donated $10.
11:06
Is it they are very thankful for the show.
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We had another one from JB and they said thanks for the show
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And we're still climbing that mountain.
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It's very difficult. I don't even know if I'll be
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able to keep the show going. So if you really like the show,
11:42
please take a second and donate at will Dash Walden on Venmo
11:48
right now. Let's get back to the America
11:50
Party for a minute. It's unofficial.
11:55
It's presence is already influencing discourse around the
11:58
US and talking about the US debt, people, more people are
12:02
talking about it and also alternative economic models. the
12:06
US isn't going to move away from what it is now.
12:09
They're not going to move to Bitcoin.
12:11
There's no way they're going to do that.
12:12
There's it's too much, it's too complicated.
12:14
But, you know, Elon Musk has shifted from being a corporate
12:17
executive with just strong opinions to someone who appears
12:22
to be building an ideological movement.
12:26
And Peter Thiel had an interview recently.
12:29
I was watching. And in that interview, he was
12:34
talking about how Elon Musk realized, and it took him years
12:38
to realize this, that even if you do go to Mars, the
12:43
ideologies from Earth will follow you there.
12:47
That woke woke AI will follow you to Mars.
12:53
So is this the beginning of Elon Musk creating a Society of
12:59
people that he would want to bring to Mars with him?
13:03
An ideology that Elon Musk could bring to Mars with him to create
13:09
a new society With those ideologies, the America party
13:14
could become the Mars party. Elon Musk still wants to send
13:17
broadcast to Mars and working on it at Star Base Texas.
13:22
If you're not familiar with the show, I spent about 10 months at
13:25
Starbase Texas reporting on Starship.
13:28
At Starbase, I was on the side of the road.
13:30
It was 110°. Every day it's getting blasted
13:33
by the sun, getting sandblasted and also torrential downpours.
13:37
Got caught in a couple hurricanes down there.
13:40
It was wild. But I spent my time down there.
13:43
I did my time and I reported from the side of the road
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because I'm a supporter of what Elon is doing as far as Starship
13:51
goes and sending humans to Mars. I think it's going to be a
13:57
humanity changing mission if it all goes well.
14:01
So I wanted to be there in the beginning when he started
14:04
building this thing. So I was there before any
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launches and the rocket 4/20 was stacked.
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And then after that IA few months after that I took off and
14:16
had to go back up north to the northeast.
14:19
But I think what Elon is doing down there is important.
14:23
I think making those rockets is important because not only for
14:25
SpaceX and for Elon, but for all of humanity to know that super
14:29
heavy rockets can exist and they can actually work.
14:32
That's important because then we can send gigantic payloads to
14:38
other planets. We can send them to Mars.
14:41
We can send a Saturn to Jupiter, to Uranus, but we can send
14:46
people to those places too, as long as, you know, radiation
14:50
doesn't get us and they have enough supplies to get to those
14:53
places and back. But the important thing is what
14:58
Elon realized before, that AI can follow you to any planet in
15:04
the solar system. And if AI can follow you to any
15:08
planet in the solar system, also robotics can go to any planet in
15:14
the solar system. So maybe the play isn't sending
15:19
people to Mars. Maybe initially it will be, but
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sending AI robots around the solar system with this ideology,
15:29
the America Party ideology, and the AI in those robots could
15:36
have this ideology. Maybe that's the play now.
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Maybe it's bigger than just America.
15:42
Maybe it's bigger than just getting a hold of the fiscal
15:46
economic model that's alternative to what we have now.
15:50
And he might see the downfall of Western civilization as we know
15:54
it if the US goes into bigger debt and he wants to make an
15:59
alternative to what we have now. So there's an escape plan.
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If you're on a podcast platform that has comments, please leave
16:10
a comment. What you think about that?
16:13
Do you think Elon's building this America party for an escape
16:15
plan? It's going to be very difficult
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to live on Mars, by the way. They're still working on it.
16:23
Nobody actually knows how to live on Mars yet.
16:26
One, because there's no field tests on Mars that have been
16:31
done. The radiation on Mars will kill
16:35
you. You have to have a habitat and
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it's not going to be one of those like fancy habitats that
16:41
you see in all the sci-fi shows where it's glass and metal and
16:47
it's going to be ugly. It's not going to be the best
16:50
looking thing. It's going to have thick walls
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and you pretty much can't go outside unless you're going to
16:57
go from your habitat to like a rocket or something to get away
17:02
from the radiation. You can't stand out there for
17:05
very long, and we can talk about that another episode too, about
17:09
the habitat on Mars and how it seems almost unattainable,
17:15
almost impossible for people to live on Mars, basically because
17:19
there's no there's no atmosphere that protects you.
17:22
Same with the moon. There's no atmosphere.
17:25
So people can stay on the moon for a little while, of course,
17:28
but living on the moon, working on the moon, that's going to be
17:31
very dangerous. Same with Mars now.
17:33
Is this America party? This is just the precursor.
17:38
Could this just be a precursor to Elon's off world Mars
17:45
adventure? The Peter Teal interview was
17:49
striking. I didn't expect him to say that
17:51
when he said that. And he also could.
17:53
He talked about Elon's rockets as little science experiments
18:00
didn't really like he kind of talked down about him and eel on
18:03
her friends. But the way he talked about it
18:05
was condescending a little bit little condescending little
18:09
science experiment. Oh, Elon with his little science
18:12
experiment down there in Texas. You know, whatever you think
18:16
about Peter Thiel, that's a whole different thing with
18:18
Palantir and his, you know, his his plays with that.
18:24
That's something else we'll get into in another episode.
18:26
So if you're into those kind of things, please hit the subscribe
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18:30
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18:33
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18:40
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18:45
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though, because it's pretty much the only way I can do this.
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I can continue to do this. The ads on the show don't pay
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It's just hard to keep going. So I want to say thank you to
19:07
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