New “America Party” is fully behind Bitcoin – Elon Musk: Fiat is hopeless
- Elon Musk confirmed the full support of Bitcoin on Saturday with his new “America Party”.
- Trump called Musks ridiculous and warned that third parties would fail. The mud fight between the two formerly thick friends should continue.
Tesla CEO Elon Musk officially has his political party “America Party ”foundedand expressed full support for Bitcoin. The current US dollar currency system is “hopeless” for him. The announcement was made at the weekend when Musk responded to a post on X, in which the question was asked whether the Bitcoin party would support. “Fiat is hopeless, so yes,” he replied directly, confirming the attitude towards cryptocurrency.
Fiat is hopeless, so yes
— Elon Musk (@elonmusk) July 7, 2025
The America Party was presented on Saturday after Musk expressed the idea in a public survey on X. He described the current political system as broken and explained:
“When it comes to driving our country into ruin through waste and bribery, we live in a one -party system, not in a democracy.”
Musk said that the party’s mission was to restore the freedom of the Americans and reduce the financial mismanagement, which he believes the nation is plagued.
The announcement was followed by Musk’s sharp resistance against a 3.4 trillion -large federal expenditure package that came into force last week. The law called “Big Beautiful Bill” was promoted by President Donald Trump. Musk, who had headed the Department of Government Efficiency (Doge) for a few weeks, described the law as “disgusting hideousness” and accused Trump to enlarge the state deficit.
Founding a party leads to an open dumping Musk and Trump
Musk’s new party is not only a challenge for Democrats and Republicans, but also gets directly together with Trump, who rejected all the effort. Trump announced from the Air Force One on Sunday:
“The Democrats strayed from the way, but it has always been a two -party system … Third parties have never worked.”
Although he represents positions similar to Trump on social issues, Musk has argued that the current politics of the Republicans contributes to increasing debt, which he describes as “debt slavery”, the conflict between the two alpha animals had been at home, and this recent political development continues to deepen its division.
Trump posted Truth Social that Musk “got completely out of track” and described the announcement of the America Party as a source of confusion, where he insisted that third parties failed historically in the US political system.
Other billionaires support the America party’s idea
Musks approach for the America party Looks forward To strive for 2 to 3 seats in the Senate and about 8 to 10 districts in the House of Representatives. He believes that this small, strategic advance could make it possible for the party to have enough power to influence the coordination in highly competitive laws. Musk
“That would be enough to make the decisive factor in controversial laws and ensure that they serve the true will of the people.”
The party attracted the attention of wealthy people such as Mark Cuban and Skybridge Capital founder Anthony Scaramucci, both of whom have shown interest in Musk’s political efforts. Although the America Party has already set up its official website, it has not yet been registered with the Federal Election Commission and no detailed plans have been published yet.
Historical attempts to establish a third political party in the United States have failed several times. In the 1992 presidential campaign, Ross received almost 19% of the votes as an independent, but was not able to win a single state and lost Bill Clinton.
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