Elon Musk has launched the America Party with a clear stance in favor of Bitcoin and a rejection of traditional fiat systems. He confirmed the establishment of the party amid increasing criticism of both the Democratic and Republican parties. The price of Bitcoin surged following Musk's political announcement and cryptocurrency endorsement.
Elon Musk has officially formed a new political party called the America Party, which he stated will support Bitcoin. The Tesla and SpaceX CEO announced this on X, formerly Twitter, to his 221.8 million followers. He called fiat currency 'hopeless' and stated that his party will bring financial freedom.
Musk criticized the current two-party system, calling it a 'one-party party', accusing the system of poorly managing national debt. He said,
‘When it comes to bankrupting the country due to waste and corruption, we are living under a one-party regime, not a democracy.’
He emphasized that his America Party will prioritize sustainable economic solutions and support digital assets like Bitcoin.
His announcement came after a poll on X gauging support for the new party model. Musk confirmed that the new political entity will focus on congressional races. He aims to challenge both the Republican and Democratic parties in key Senate and House elections.
Elon Musk attacks Trump's bill, promoting financial reform.
Musk harshly criticized the 'Big, Beautiful' bill proposed by former President Donald Trump, calling it harmful to jobs and the economy. He warned that this 940-page proposal includes unsustainable tax cuts and dangerous federal reductions. He added that this bill could undermine strategic national interests.
This criticism has further intensified the already public rift between Musk and Trump. Trump responded via Truth Social, saying that Musk has 'gone off track' and labeled him as 'TRAIN WRECK'. Musk remains focused on outlining financial reforms and supporting policy ideas backed by Bitcoin.
He also condemned both political factions for the rising federal debt under multiple administrations.
‘The America Party needs to fight against the united Republican/Democratic Party,’ Musk wrote.
He emphasized that change is necessary and the current system lacks real alternatives.
Bitcoin receives a political boost as Musk endorses cryptocurrency.
After Musk confirmed support for Bitcoin, its price rose from $108,735.07 to $109,361.29 before stabilizing at $109,160. Analysts noted the correlation between his announcement and Bitcoin's volatility. Cryptocurrency investors reacted positively to Musk linking Bitcoin with a political agenda.
Musk has publicly discussed Bitcoin since 2014, but this is the first political connection. A user commented on X, calling it a 'big signal' for the cryptocurrency industry. Some speculate that Musk may be quietly buying Bitcoin in the background.
Social media discussions surged after a cryptocurrency-focused account noted Musk's recent silence on Bitcoin. Some users suggested he had 'quietly been accumulating BTC' before this announcement. However, Musk has yet to confirm or deny holding personal or company Bitcoin reserves.
Summary
Elon Musk has launched the America Party, positioning it as a political challenger to the U.S. two-party system. He declared that the party will support Bitcoin and oppose fiat currency, calling it 'hopeless'. Musk criticized both the Republican and Democratic parties for the increasing national debt and attacked the economic bill proposed by Trump. The party plans to focus on congressional races and promote financial freedom through digital assets. The price of Bitcoin rose following this announcement. Musk's move could mark a new chapter in the intersection of politics and cryptocurrency.