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.

Investing.com -- Bitcoin has gained more political legitimacy after Elon Musk announced his newly launched America Party will fully back the digital asset, building on momentum started by the Trump administration earlier this year.