TLDR
Elon Musk forms America Party to challenge U.S. two-party system and support bitcoin.
Musk slams $3.4T spending bill, says “Fiat is hopeless,” backs BTC as alternative.
America Party not yet FEC-registered; no policy docs or candidate plans released.
Bitcoin trades at $109K after Musk confirms America Party’s pro-crypto stance.
Tesla CEO Elon Musk has launched a new political organization called the America Party and announced that it will support bitcoin. Musk confirmed the party’s pro-bitcoin stance through a response on his social media platform X, where he declared, “Fiat is hopeless.”
The move follows growing criticism by Musk of both Republican and Democratic fiscal policies. He stated that the America Party will aim to challenge what he describes as a “one-party system” in the United States, blaming both major parties for high national spending and inefficiencies.
Elon Musk Announces Political Party to Challenge Two-Party System
Elon Musk revealed the formation of the America Party on Saturday after conducting a poll on X asking users about the idea. In a post announcing the launch, Musk said, “Today, the America Party is formed to give you back your freedom.” He accused both Republicans and Democrats of working together when it comes to “bankrupting our country with waste & graft.”
According to Musk, the America Party intends to position itself as an alternative voice in a system he believes lacks true diversity in policy. “We live in a one-party system, not a democracy,” Musk wrote, adding that the current political structure limits voter choice and fails to protect national interests.
Although the America Party has launched a website, it is not yet registered with the Federal Election Commission. Musk has also not published any official policy documents or a timeline for the party’s roadmap.
Bitcoin Endorsement Tied to Broader Economic Criticism
Musk’s confirmation that his party will support bitcoin came in response to a user’s direct question on X. He replied, “Fiat is hopeless, so yes,” signaling the America Party’s openness to digital currencies.
This statement aligns with Musk’s previous actions in the crypto space, including Tesla’s past bitcoin purchases and support for other cryptocurrencies. His criticism of fiat currencies reflects his ongoing concerns about inflation and government spending.
Bitcoin was trading at $109,028 at the time of writing, up 0.78% over the previous 24 hours.
Dispute With Trump Over Spending Bill Fuels Party Launch
Elon Musk’s launch of the America Party comes shortly after a public disagreement with President Donald Trump. The disagreement centered on Trump’s support for a $3.4 trillion government spending plan known as the “Big, Beautiful Bill,” which was signed into law last week.
Musk called the bill a “disgusting abomination” and blamed it for increasing the U.S. deficit. He previously led the Department of Government Efficiency (DOGE), a short-lived agency aimed at reducing federal spending.
In a post, Musk suggested the party could focus its efforts on “just 2 or 3 Senate seats and 8 to 10 House districts.” He believes that would be enough to become a swing vote on key legislation due to narrow margins in Congress.
Early Support and Next Steps Remain Unclear
While Musk has yet to file the party with federal authorities, several public figures have expressed interest. These include billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci, though no formal commitments have been made.
President Donald Trump responded on Truth Social, stating Musk had “gone completely off the rails” and pointed out that no third party has ever succeeded in U.S. history. Musk has not addressed Trump’s comment directly.
The America Party’s website is now live, though it provides limited details beyond introductory information. No official campaign materials, donation portals, or event schedules have been published. It is also unclear whether the party plans to run candidates in upcoming elections.
As of now, Musk has not provided further details about how bitcoin would fit into the party’s economic platform.
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