Elon Musk’s America Party Embraces Bitcoin Amid $5T Debt Surge
Elon Musk has launched the America Party, a new political force against the US government’s growing fiscal irresponsibility.
Quick overview
- Elon Musk has launched the America Party to address fiscal irresponsibility in the US government, following a significant increase in national debt.
- After polling his followers, Musk confirmed the party's formation, criticizing both major parties for inefficiency and advocating for fiscal discipline and individual freedom.
- Musk has endorsed Bitcoin as the party's currency, emphasizing a shift away from traditional fiat systems.
- Despite backlash from political figures, Musk's announcement has positively impacted the crypto market, with Bitcoin prices rising.
Elon Musk has launched the America Party, a new political force against the US government’s growing fiscal irresponsibility. This comes just days after President Donald Trump signed the Big Beautiful Bill which increased the national debt by $5 trillion.
Musk went to his 200+ million followers on X (formerly Twitter) and asked if he should start a new political party. 65.4% of 1.2 million participants said yes and Musk replied “You want a new political party and you shall have it!” He criticized both major US parties for reckless spending and inefficiency and said the current system is “not a democracy but a one party system.”
Musk’s move is a big deal in US politics as he wants to give citizens a “real choice” and “fiscal discipline and individual freedom.”
Bitcoin as the Party’s Currency
Musk’s endorsement of Bitcoin (BTC) as a foundational financial element for the America Party takes his vision to a whole new level. When someone asked on X if his party would accept BTC, Musk replied “Fiat is hopeless”. This one line sums up his views on traditional US currency and his embracing of the decentralized and deflationary model of Bitcoin.
Key BTC Metrics:
- Price: $109,600 (24 hour increase of 1.42%)
- Daily Trading Volume: Up 28% to $38 billion
- Futures Open Interest: Up 4% to $75 billion
Musk has a history with crypto. Tesla, his electric car company, was one of the first major companies to invest in BTC and now holds 11,509 BTC making it one of the top 10 publicly traded corporate holders.
Political Fallout and Market Impact
Musk’s move has drawn strong reactions from establishment figures. Trump responded on Truth Social saying Musk is “crazy” and that third parties only create “chaos”. Treasury Secretary Scott Bessent echoed this saying Musk should “stick to business not politics”.
Despite the criticism, Musk’s move is pumping the crypto market. Bitcoin is back above $109,500 with eyes on a breakout above $110,000 as investors are confident in Musk’s influence and disillusioned with fiat.
Quick Highlights:
- America Party formed after Trump signed a $5T debt increase bill
- BTC supported as a currency alternative by Musk
- Political leaders push back, but crypto markets respond positively
Elon Musk’s America Party is more than a political experiment—it’s a financial revolution in the making. With Bitcoin at its core, the party signals a disruptive future where digital assets and decentralized governance challenge the old guard.
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