Elon Musk Launches “America Party,” Embraces Bitcoin

Elon Musk has formally unveiled the “America Party”, a new political movement aimed at shaking up the status quo. The announcement, made via Musk’s social media platform X on July 5, comes just days after the U.S. House passed the controversial “One Big Beautiful Bill”—a sweeping $3.3 trillion spending package backed by President Donald Trump.

Musk has been openly critical of the bill, calling it “fiscal insanity” and “the debt slavery bill.” In response, he says the America Party will stand for limited government, technological innovation, and economic freedom and will embrace Bitcoin.

“Fiat currency is hopeless,” Musk declared.

Unlike most politicians who tiptoe around crypto, Musk is taking a stand. He has long been a supporter of Bitcoin, with both Tesla and SpaceX holding BTC in their treasuries. Now, he’s bringing that philosophy into the political realm.

The America Party’s platform is still evolving, but Musk’s messaging has been clear—digital assets like Bitcoin represent freedom, while fiat currency represents centralized control. His recent posts have called fiat systems “rigged” and “in service of debt and control.”

A Deep Rift with Trump

The formation of the America Party stems from a public fallout between Musk and President Trump. Their once cordial relationship has soured, particularly over the federal spending bill Musk says guts innovation while bloating the government.

In a Truth Social post, Trump lashed out at Musk, claiming he was “completely off the rails” and bitter over the removal of electric vehicle subsidies. The President also mocked Musk’s new party, pointing out that third parties in U.S. history have never succeeded at scale.

Musk, unfazed, responded on X by calling out what he views as corruption and waste under both major parties.

Musk has clarified that the America Party will not field a presidential candidate in 2024. Instead, its short-term focus will be on flipping key House and Senate seats in districts with razor-thin margins. He believes this could make the party a decisive swing vote on “contentious laws.” For now, the emphasis remains on legislative influence and growing grassroots support.

The party’s current platform—shared mostly through Musk’s posts and retweets—includes support for Bitcoin over fiat, free speech absolutism, and a reduction in regulatory red tape for startups and entrepreneurs.

No Official Filing—Yet

Despite Musk’s bold declarations, no formal paperwork exists with the Federal Election Commission (FEC) as of now. Earlier rumors circulated that a filing had been made under Musk’s name for the America Party, but he publicly denied any involvement, calling the document false

There’s also no official website or staff named. For now, the party exists as a social media movement with Musk at its center.

Can a Third Party Win?

Third parties have rarely made serious headway in U.S. politics. From Ross Perot in the 90s to the Libertarian and Green parties today, structural barriers make it difficult to compete with Democrats and Republicans.

However, Musk is betting that a combination of social media power, disillusioned voters, and crypto-native ideals can tip the scales. His large online following and cultural influence give the America Party an edge that few third-party efforts have enjoyed.

In a recent X poll Musk posted, over 68% of respondents said they would support a third party if it represented innovation and financial reform.