Catenaa, Tuesday, July 08, 2025- Elon Musk has announced that his newly formed political group, the America Party, will support bitcoin as part of its platform, vowing to challenge what he called the U.S.’s entrenched two-party system.
“Fiat is hopeless,” Musk posted on X, confirming the party’s pro-crypto stance in response to a user query.
The tech billionaire unveiled the America Party over the weekend, asserting it will serve as a political alternative to Democrats and Republicans. Musk criticized both parties for fiscal irresponsibility and claimed the United States is no longer functioning as a true democracy.
The announcement comes after Musk’s public fallout with President Donald Trump over the recently passed $3.4 trillion “Big, Beautiful Bill.” Musk condemned the legislation as fiscally reckless and accused the government of inflating deficits through unchecked spending.
Musk previously led the Department of Government Efficiency (DOGE), an agency credited with cutting bureaucratic waste. He now plans to focus the America Party’s early efforts on a handful of competitive Senate and House races to gain leverage in a divided Congress.
Despite Trump’s dismissal of third-party efforts as historically futile, the America Party has launched a website and drawn interest from high-profile figures including billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci. However, the party has not yet registered with the Federal Election Commission, and Musk has not released a formal policy platform.
