Elon Musk’s bitcoin endorsement signals a pivotal turn as political forces elevate the asset from speculative trade to a central feature of sovereign economic strategy. CEO of global financial advisory firm Devere Group, Nigel Green, stated on July 8 that Musk’s move to anchor bitcoin within his newly launched America Party marks a defining moment in the digital asset’s political evolution.
“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,” Green said. “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.”
That shift began in March, when President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve. Green called the order transformative: “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.” The Devere boss added:
Trump institutionalized bitcoin through formal policy. Musk is now embedding it into the democratic process. This dual momentum is significant validation for the crypto sector.
Once aligned, Musk and Trump have since publicly split. Musk, who previously led the Department of Government Efficiency ( DOGE) under the Trump administration, criticized Trump’s broad tax and spending bill as a “disgusting abomination” for increasing national debt and cutting green energy credits. In response, Musk launched the America Party to challenge the two-party system, prompting Trump to denounce the initiative and dismiss it as a “train wreck.”
Markets responded quickly to Musk’s bitcoin support, sending BTC higher. Green commented: “Bitcoin is no longer a pure market asset, it’s now a political variable. It changes how institutional capital must evaluate it. Exposure isn’t just about price speculation, it’s about positioning ahead of structural adoption.” He stressed that U.S. actions are reshaping the global landscape:
When the United States, the world’s largest economy, endorses bitcoin through both policy and politics, it compels global institutions to re-evaluate their own approach. bitcoin is being normalized by the most influential levers of power — and that gives it staying power.
The Devere executive emphasized the implications for investors: “The conversation has changed. The fundamentals have caught up with the narrative, and the political tailwind makes it increasingly difficult for serious capital allocators to ignore.” He concluded: “Musk’s move doesn’t just signal support, it propels bitcoin into another stage of legitimacy. Combined with Trump’s federal reserve policy, the political foundations for widespread adoption are being laid.”
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