Elon Musk, CEO of Tesla and SpaceX, has officially launched a new political party in the United States called the “America Party”. He wants to shake up the two-party system, and apparently, Bitcoin will be a part of it.
He announced it on his social media platform, X, after a poll where 2/3 of 1.24 million people voted in favor of a new party.
“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” he wrote. “Today, the America Party is formed to give you back your freedom.”
Musk has made it clear that the America Party will support Bitcoin, as he called the U.S. dollar and the fiat system “hopeless”. When asked if the new party would support Bitcoin, he replied, “Fiat is hopeless, so yes”.
Musk has been a vocal digital assets supporter for a long time. Tesla and SpaceX together hold nearly 19,794 BTC according to BitcoinTreasuries, worth over $2 billion at the time of writing.
Under Musk’s leadership, Tesla became one of the first big corporations to hold bitcoin in its treasury. It purchased $1.5 billion in BTC back in 2021.
By making Bitcoin a part of the America Party’s platform, Musk is using it as a symbol of economic reform and individual empowerment.
Analysts believe Musk’s endorsement of Bitcoin could boost its mainstream appeal and even influence U.S. monetary policy debates.
Musk’s new political movement follows a very public series of disagreements with President Donald Trump. They had been working closely together, and Musk was even granted the leadership of a government agency called the Department of Government Efficiency (DOGE).
But their relationship went sour over Trump’s “Big, Beautiful Bill” – a $3.4 trillion spending package Musk harshly criticized.
Musk called the bill “a disgusting abomination,” and said it would add trillions to the national debt and harm the U.S. economy. The bill would increase the debt ceiling by $5 trillion, as the overall U.S. debt has ballooned to over $37 trillion.
“The dollar will be worth nothing if the US doesn’t do something about its national debt,” he wrote on X.
Trump responded, saying, “A third political party has never been successful in the United States,” and accused Musk of going “completely off the rails.”
The America Party will focus on House and Senate races in the 2026 midterms and not on a presidential candidate right away. Musk said the party could swing close votes in Congress by targeting just a few key districts.
“One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,” Musk posted. “That would be enough to serve as the deciding vote on contentious laws.”
The party is pro-tech, anti-regulation and pro-free speech and uses Bitcoin as a symbol of freedom and fiscal responsibility. It’s an alternative to the “Uniparty” system in the United States—Musk’s term for the long-standing balance of power between Democrats and Republicans.
Will turning Bitcoin into a political issue speed up its acceptance as a mainstream asset, or will it hurt its adoption as it gets involved in political plays?
No one knows the answer, but one thing is for sure: Bitcoin has now entered the political space, and other politicians will have to take a stance on it.
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