Elon Musk proposes the America Party to challenge U.S. politics and embraces Bitcoin as a hedge against inflation and fiat risk.
Tensions between Musk and Trump intensified after a $3.3T spending bill and disputes over taxes, NASA contracts, and political vision.
America Coin surged 120% after Musk’s Bitcoin support, despite no endorsement, echoing Dogecoin-style hype in political crypto markets.
Elon Musk has stirred political and crypto circles by backing Bitcoin for his proposed ‘America Party.’ He confirmed this in a Sunday X post responding to a user’s question about whether the party would support Bitcoin.Musk expressed strong skepticism toward fiat currency, claiming it contributes to economic instability.
His response followed Saturday’s explosive announcement of the ‘America Party,’ a political alternative opposing the traditional two-party system.The announcement came after Donald Trump approved a controversial $3.3 trillion spending bill, which Musk openly criticized as reckless. Musk’s followers strongly supported the idea during an X poll held on Independence Day, with over 65% voting in favor.
Bitcoin Ties and Political Fallout
Besides rejecting the spending plan, Musk aims to modernize economic policy through Bitcoin adoption.He views Bitcoin as a hedge against inflation and government overreach.
However, Musk clarified that no official steps have been taken to register the party.
Despite that, online speculation erupted after a supposed FEC filing surfaced under his name. Consequently, Musk quickly denied any connection, calling the documents fake and misleading.Still, the rumor added fuel to growing excitement around his political move.
Meme Coin Mania and Trump Fallout
Hours after Musk’s Bitcoin statement, a memecoin called America Coin (AP) launched on Pump.fun, gaining 120% instantly.Its market cap hit $18 million, and speculators flooded the token with trading activity.Traders now call it “the Dogecoin of politics,” even though Musk hasn’t endorsed it. Musk’s fallout with Trump escalated throughout 2025.
He left his role as head of the Department of Government Efficiency, triggering a rift with the president.Trump reportedly criticized Musk behind closed doors, fueling public friction. Additionally, Musk opposed Trump’s tax reforms in spring, calling them a financial disaster.
Trump then threatened to terminate NASA contracts with SpaceX after Musk raised concerns about the Dragon program. Their online clash reached a peak when Musk hinted at Trump’s Epstein ties and suggested impeachment.
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