Elon Musk Declares “Fiat is hopeless,” Implying Bitcoin as the Future, but Dogecoin Is Left Out
Tech billionaire Elon Musk has once again stirred up the crypto community by declaring that “Fiat is hopeless,” hinting at his strong belief in Bitcoin in a public exchange on social media. The comments come shortly after the US Party, a new centrist political organization believed to be closely linked to Musk, officially launched, opening up a wave of debate over the role of Bitcoin and cryptocurrencies in the new party’s economic strategy.
Bitcoin The Financial Pillar of the New US Party?
The story began when Renato Lima, a long-time Bitcoin investor and advocate, asked Musk directly whether the US Party supported Bitcoin. Musk’s response was short but clear:
“Fiat is hopeless, so yes.”
This statement is widely seen as Musk's implicit commitment that Bitcoin will be an important part of the US Party's financial direction, especially in the context of his repeated criticism of the traditional monetary system as well as the fiscal policies of the current government and the Republican Party.
Dogecoin "ignored"? Community worried
Immediately after Musk's stormy comment, the Dogecoin community, which considers Musk the "Dogefather", quickly flooded the thread with posts, memes and GIFs, hoping for a confirmation that DOGE will also have a place in the financial future of the US under Musk's vision.
However, the Tesla boss has yet to make any comments related to Dogecoin, making many fans feel worried. Previously, DOGE has been rumored many times to be integrated into the ecosystem of X (formerly Twitter) owned by Musk, but so far no specific product has been launched.
Cryptocurrency Market Reacts Mixedly
While Musk's remarks were warmly received by the Bitcoin community, the cryptocurrency market saw a rather muted reaction. Bitcoin (BTC) remained stable, hovering around $108,000, with no immediate breakthrough.
Dogecoin (DOGE), on the other hand, recorded a 2.8% increase, reaching $0.175, its highest level of the week, following a wave of expectations from fans. Some analysts believe that just one supportive tweet from Musk could send DOGE soaring even further.
Is Cryptocurrency in Politics?
Elon Musk's public endorsement of Bitcoin amid the formation of a new political party is a strong signal, showing the growing influence of cryptocurrencies in national political and financial discussions. While traditional parties remain hesitant, the New American Party may be the vanguard in legitimizing and promoting the use of cryptocurrencies at the institutional level.
However, the question remains: What role does Dogecoin, the meme currency once “backed” by Musk, play in this new financial revolution?
Conclusion: One statement, many consequences
Elon Musk’s short response may not have immediately changed the market, but it certainly sent shockwaves through the crypto community. As the billionaire genius gets involved in politics, cryptocurrencies may no longer be just a speculative asset, but become the backbone of a revolutionary new economic vision.
There is only one thing the world is waiting for: What will Elon Musk say next, and is Dogecoin still in his sights?