-
Elon Musk launched the “America Party” to challenge the U.S. two-party system
-
The party will support Bitcoin, calling fiat currency “hopeless”
-
Billionaires like Mark Cuban and Anthony Scaramucci have shown interest
-
The party is not yet officially registered but has launched a website
Musk Declares Support for Bitcoin in Politics
Elon Musk has confirmed that his newly launched political movement, the America Party, will support Bitcoin. Responding to an X user’s question on Sunday, Musk wrote, “Fiat is hopeless, so yes,” indicating his alignment with Bitcoin over traditional currencies.
The announcement follows Musk’s official launch of the America Party on Saturday, with the goal of breaking the Republican-Democrat duopoly. Musk argued that the current system has led to reckless spending and diminished democratic representation. “Today, the America Party is formed to give you back your freedom,” he posted on X.
Challenging the Status Quo
The move comes after Musk’s very public break with Donald Trump over the recently passed $3.4 trillion federal spending package. Musk labeled the bill a “disgusting abomination” and cited it as a key reason for founding the America Party.
He outlined a strategy that includes targeting just a handful of Congressional races where narrow margins could give the party decisive influence. “Just 2 or 3 Senate seats and 8 to 10 House districts” could be enough to tip the balance, Musk argued.
Bitcoin in the Spotlight
With Bitcoin trading at over $109,000, the cryptocurrency’s endorsement by Musk’s political party could have major implications. The America Party’s website is already live, though the organization is not yet formally registered with the Federal Election Commission.
Notably, billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci have expressed support for Musk’s initiative, hinting at early momentum for the Bitcoin-friendly platform.
