JULY 8 2025 – Elon Musk's announcement that his newly launched America Party will fully back Bitcoin marks a major leap in the digital asset's political legitimacy — and directly builds on the momentum initiated by the Trump administration earlier this year, says the CEO of one of the world's largest independent financial advisory and asset management organizations.
Nigel Green of deVere Group says Musk's move signals that Bitcoin has decisively moved from the fringe of financial markets into the core of sovereign-level policy and mainstream political strategy.
“Musk is pushing Bitcoin deeper into public life, but this isn't a solo effort. He's stepping into a slipstream that was already building under the Trump administration,” says the deVere CEO.
“The world's richest entrepreneur is now amplifying what started as a federal shift, and in doing so, he can be expected to accelerate institutional adoption.”
In March, President Trump signed an executive order establishing a Strategic Bitcoin Reserve, formally placing seized Bitcoin into permanent federal custody. Managed jointly by the Treasury and Commerce Departments, this reserve is understood to hold more than 200,000 BTC — now valued in the tens of billions of dollars — placing Bitcoin alongside gold and oil in the United States' sovereign asset portfolio.
“This was a pivotal moment. It reframed Bitcoin from a volatile outsider to a recognised store of national value. It told global markets that the US no longer sees Bitcoin as a threat — but as an asset.”
That structural repositioning created the foundation for what Musk has now made political.
Musk's declaration that Bitcoin will be a core pillar of his America Party adds new velocity. It ext