Quick Overview Elon Musk has officially announced the formation of a new political party, The America Party, aiming to challenge the dominant two-party system in the United States. One of the core principles of the new party will be strong support for Bitcoin. Responding to a user on X (formerly Twitter) who asked if the party would embrace Bitcoin, Musk stated: $BTC
“Fiat is hopeless, so yes.”
Background The announcement followed a public poll conducted by Musk on X, where he gauged support for the idea. He wrote:
“When it comes to bankrupting our country with waste and graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.”
Strategic Vision Musk emphasized a targeted political strategy, saying the party will initially focus on securing 2–3 Senate seats and 8–10 House districts.
“Given the razor-thin legislative margins, this would be enough to serve as the deciding vote on key legislation — ensuring laws reflect the will of the people,” he said.
Clash With Trump This announcement follows a public disagreement between Musk and former President Donald Trump, specifically over the recent $3.4 trillion federal spending bill — labeled the "Big, Beautiful Bill." Musk criticized the bill as a “disgusting abomination” and blamed it for further increasing the U.S. deficit. Musk previously led the Department of Government Efficiency (DOGE) to reduce federal waste.
Trump responded via Truth Social, stating Musk had “gone completely off the rails” and claiming third parties have “never succeeded in U.S. history.”
Public Interest and Support Despite criticism, Musk’s America Party has already gained attention from notable figures including billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci. An official party website has also been launched, though no registration with the Federal Election Commission (FEC) has been confirmed yet. A full roadmap is still pending.
Bitcoin Price Movement Following the announcement, Bitcoin saw a modest increase of 0.78% in the past 24 hours, currently trading at $109,028, according to The Block’s Bitcoin Price Index.
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