Tech billionaire Elon Musk has officially launched his new political movement, the “America Party,” pledging full support for Bitcoin and pro-crypto innovation.
The announcement came via a series of posts on X (formerly Twitter), where Musk declared his intention to break away from what he calls the entrenched “Republican/Democrat Uniparty.” His comments have reignited excitement in the crypto community, especially after he explicitly stated:
“Fiat is hopeless,” when asked by user Renato Lima why his new party would support Bitcoin.
America Party: A New Force in U.S. Politics
On July 5, Musk confirmed the formation of the America Party (AMEP) after warning he would start a third party if Donald Trump’s controversial “Big Beautiful Bill” passed. Musk argued the legislation would add trillions in debt and cause “immense strategic harm” to the nation.
“When it comes to bankrupting our country with waste and graft, we live in a one-party system, not a democracy,” Musk wrote.
The party was officially registered with the Federal Election Commission (FEC) on July 6, and aims to strategically target “just two or three Senate seats and eight to ten House districts” to influence pivotal legislation.
A Pro-Crypto Agenda
Musk’s support for Bitcoin and broader crypto innovation is now part of his formal political platform. Analysts interpret his recent comments as a clear signal that he’s once again warming up to the digital asset space after months of silence.
His new party platform includes:
- Embracing Bitcoin and decentralized finance
- Supporting AI development and automation
- Reducing national debt through fiscal responsibility
- Deregulating energy innovation
- Advocating for free speech and reduced censorship
Bitcoin Price Responds
Following Musk’s remarks and the party launch, Bitcoin surged 1.5%, reaching an intraday high of $109,550—just shy of its all-time high. The price boost underscores the influence Musk continues to hold over crypto markets.
Analysts are also eyeing the July 9 trade tariff deadline, which could further impact Bitcoin’s price depending on U.S. trade decisions.
Bottom Line:
Elon Musk launches a new political party that not only challenges the status quo in Washington but also puts Bitcoin and crypto innovation at the heart of its platform—potentially reshaping both tech and political landscapes.
