Elon Musk Launches America Party Backing Bitcoin

Elon Musk, the CEO of Tesla and SpaceX, has declared that the America Party, his newly formed political entity, will fully support Bitcoin. Musk took to the social media platform X to express his views, stating that "Fiat is hopeless," thereby emphasizing the party's pro-Bitcoin stance. This announcement follows the official launch of the America Party, which came after a public escalation of his feud with former U.S. President Donald Trump. Trump had criticized Musk on Truth Social, calling him a "train wreck" and expressing sadness over his public behavior. Musk, in response, had accused Trump of abandoning the political center and had posted a poll asking his followers if he should form a new party to represent "the 80 percent in the middle." With about 80% voting in favor, Musk proceeded to launch the America Party, at least unofficially for now.

Before the announcement, other political figures had attempted to engage Musk in their projects. Andrew Yang had expressed interest in forming a political party with Musk or gaining his support for the Forward Party. Steven Nekhaila, chair of the Libertarian National Committee, also reached out to Musk, but he remained focused on the One Big Beautiful Bill Act, which triggered his split from Trump. As the bill neared a vote in the Senate, Musk promised to back primary challenges against Republican lawmakers who voted in favor of it. When the bill passed the House of Representatives, Musk followed through on his promise, revealing a loose electoral strategy that blasted both major parties as a single "uniparty" failing to offer real policy differences.

Despite Musk's massive personal fortune, pushing the America Party into the national conversation will not be easy. The party faces significant legal and public support challenges. Musk, born in South Africa, is constitutionally ineligible to run for the U.S. presidency, adding to the complications. The internal structure of the America Party and its leadership remain unclear, with Musk being the sole figurehead at present. The party's pro-Bitcoin stance aligns with Musk's personal advocacy for cryptocurrencies, which could influence the broader acceptance and integration of Bitcoin within the political and economic spheres. The America Party's formation is part of a broader effort to bring tech interests to the forefront of American politics, reflecting Musk's commitment to innovation and technological advancement. As the America Party gains momentum, it will be interesting to see how it navigates the complexities of American politics and its impact on various sectors.