Elon Musk Forms ‘America Party,’ Endorses Bitcoin Over “Hopeless” Fiat
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Elon Musk’s relationship with US President Donald Trump has gone from alliance to an all-out public feud. Now, Elon Musk has formed a new centrist political party, the America Party, that will support cryptocurrency, especially Bitcoin. Elon Musk, once a prominent ally of Donald Trump and a major backer of his 2024 campaign with contributions totaling between $250–300 million, has made a dramatic political pivot. He briefly served as the head of the satirically named Department of Government Efficiency (DOGE), a role he held until recently. However, in a sharp turn that has reverberated through both Capitol Hill and Wall Street, Musk has severed ties with Trump and launched a new political movement: the America Party (AMEP). The timing was symbolic, on July 4th, as the U.S. marked the 249th anniversary of its independence, Musk posted a poll on X asking his followers whether he should move forward with his long-teased idea of forming a party to challenge both Democrats and Republicans. The response was overwhelmingly positive. Later, Musk declared: When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom. He was asked whether the new party would support Bitcoin (BTC), Musk doubled down on his critique of the current financial system, stating bluntly, “Fiat is hopeless, so yes.” With that, he positioned the America Party as a tech-forward, crypto-embracing challenge to the status quo. This aligns with his long-standing criticism of inflation and centralized monetary policy. Musk views Bitcoin as a symbol of freedom, decentralization, and financial reform, core values he wants the American Party to represent. Musk’s Breaking Point Elon Musk has been vocal about his concerns over unchecked government spending and the ballooning U.S. national…
Filed under: News - @ July 8, 2025 9:25 am