Elon Musk's Bombshell: Launches 'America Party' to Shake Up U.S. Politics with Bitcoin at Its Core

Hold onto your hats, folks! Elon Musk, the tech titan who never ceases to amaze, just dropped a political bombshell. He's launching a new party called the 'America Party' to challenge the stale two-party system in the U.S. And guess what? He's all in on Bitcoin, calling fiat currency straight-up "hopeless."

On July 7, Musk took to his X account to announce that his 'America Party' would be the antidote to the so-called "centrist" problem plaguing the U.S. When X user Renato Lima asked if the party would embrace Bitcoin (BTC), Musk didn't hesitate. "Fiat is hopeless, so yes," he fired back, leaving no room for doubt.

"Will America Party embrace Bitcoin?" asked X user Renato Lima.

"Fiat is hopeless, so yes," said Elon Musk in his post.

Fiat is hopeless, so yes

The crypto community went wild over Musk's post, with heavy hitters like Bitcoin Advocate Max Keiser and IBC Group Founder Mario Nawfal throwing their support behind him. These crypto figureheads are ready to "vote" for Musk's America Party if it champions Bitcoin.

"Crypto could be the strongest tool to fight inflation, and Washington's addiction to money printing and runaway spending," declared Mario Nawfal in his post.

Joe Burnett, Director of Bitcoin Strategy at Scientific, also jumped on the bandwagon, echoing Musk's views on the hopeless state of fiat currency. He argued that digital money could be the key to creating economic incentives for leaner, more efficient government systems.

"It's less about politics and more about creating monetary tools that restructure the economic incentives," Burnett added, replying to Musk's earlier post.

But not everyone's on board with Musk's grand plan. His former ally, President Donald Trump, slammed the idea, claiming Musk has gone "off the rails" in recent weeks. Trump warned that a third party would only bring chaos and disruption to the system.

"He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States - The System seems not designed for them," said Trump in a TruthSocial post.

What is Elon Musk's America Party?

Just a few days ago, on July 4th, Musk dropped the bombshell that he's forming the America Party. He launched a poll on X, asking if he should create an independent party to challenge the two-party system. The response was massive - over 1.2 million votes, with a whopping 65.4% saying YES to the America Party.

"Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system!" Musk exclaimed in his post.

While the party is still in its early stages, Musk has a game plan. He believes that securing two to three Senate seats and around eight to ten House districts would be enough to make the America Party a force to be reckoned with.

"Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people," Musk continued.

This bombshell comes on the heels of a major falling out between Musk and Trump earlier this year. The two former allies had a political showdown when Musk called Trump's $3.4 trillion Big, Beautiful Bill a "disgusting abomination" and accused Republican lawmakers of fiscal dishonesty.

The Big Beautiful Bill is a massive spending and tax package that includes key policies of Trump's second term. It passed the House by a narrow margin of 218 to 214 and includes extensions of the 2017 tax cuts, cuts to health care and food programs, and other tax breaks.