Tech mogul Elon Musk announced the establishment of a new political party - the 'America Party' after falling out with U.S. President Donald Trump, advocating for technology, supporting freedom of speech, opposing regulation, and publicly stating that it will embrace Bitcoin, straightforwardly claiming that the fiat currency system is hopeless.
Fiat is hopeless, so yes
— Elon Musk (@elonmusk) July 7, 2025
Musk has always been a strong supporter of cryptocurrency, and his two major companies, Tesla and SpaceX, still hold Bitcoin as company assets. He recently pointed out on social media platform X that the 'America Party' will focus on supporting technological innovation, protecting freedom of speech, and opposing excessive regulation as its main platform, with a policy stance leaning towards centrism.
The external world generally believes that this political struggle stems from the rift between Musk and Trump. After Trump returned to the White House, Musk once led the 'Department of Government Efficiency (DOGE)', responsible for finding ways to reduce federal government spending, but the two later fell out over the (Big and Beautiful Act).
Musk believes that the (Big and Beautiful Act) will increase U.S. national debt and harshly criticized it as the 'Debt Slavery Act', threatening that if the U.S. passes the act, he will establish the 'America Party' the next day.
Currently, the 'America Party' has not completed formal registration and has not yet established an official website. Its policy platform mostly comes from Musk's personal posts and shares on social media. He emphasized that the new party will not nominate a presidential candidate in its early stages, but will focus on the elections for both chambers of the U.S. Congress.
In response, Trump also opened fire on his own social media platform Truth Social, harshly criticizing Musk as being 'completely out of control' and even describing his actions as 'a runaway train disaster', also pointing out that America has always been a two-party system, and that third parties have never succeeded.
According to (CBS News), establishing a new political party in the United States will face severe challenges in obtaining cross-state ballots, including signature thresholds, state law reviews, and legal lawsuits. Achieving national ballot eligibility could take several years and cost over a hundred million dollars.
Although the external world cannot yet confirm the final outline of the 'America Party', Musk's high-profile stance in support of Bitcoin and denial of the traditional fiat currency system is bound to reignite attention and heated discussions in the tech community and cryptocurrency circle. This gamble into the political arena, whether it is another disruption by a tech mogul or just a fleeting moment on the American political spectrum, remains to be seen by time.
"Straightforwardly stating that the fiat currency system is hopeless! Musk: The 'America Party' will embrace Bitcoin" This article was first published on (BlockTempo).
