Elon Musk Forms ‘America Party’ With Pro-Bitcoin Stance, Triggering Political Rift with Trump

Musk’s Party Targets Bitcoin, Deregulation, and Micro-Political Control

Elon Musk has officially launched the “America Party,” a new political formation that aligns itself with Bitcoin, deregulation, and a centrist vision for U.S. governance. Announced on July 5, 2025, via his X account, the Tesla and SpaceX CEO described the party as a response to rising fiscal recklessness and centralization. When asked whether the America Party supports Bitcoin, Musk replied bluntly, “Fiat is hopeless, so yes,” confirming that digital assets, particularly Bitcoin, will form part of the party’s ideological foundation. 

The move follows Congress’ approval of the controversial $5 trillion “One Big Beautiful Bill Act” — legislation Musk harshly condemned for cutting social programs and slashing clean energy funding. He labeled the bill “a disgusting abomination,” warning lawmakers who backed it that they risk losing their primaries.

Tesla’s existing relationship with Bitcoin provides context to Musk’s shift. The company currently holds 11,509 BTC, valued at approximately $1.26 billion, placing it as the ninth-largest public firm in terms of Bitcoin reserves. Musk has a complicated history with crypto, from criticizing Bitcoin’s environmental footprint in 2021 to proposing hypothetical Lightning Network applications on Mars. His rekindled embrace of Bitcoin reflects not just a business move, but now a political doctrine. The newly unveiled party plans to integrate decentralized finance into its economic framework, echoing Musk’s long-standing distrust of centralized institutions.

Political tensions intensified when former President Donald Trump responded to the announcement with scorn. On July 6, Trump posted on Truth Social that Musk had gone “off the rails” and dismissed the third-party effort as a “train wreck.” He emphasized that third parties historically fail in the U.S. due to structural barriers. Despite this, Trump’s inner circle appears increasingly nervous. Far-right commentator Laura Loomer warned that prominent GOP figures like Marjorie Taylor Greene and Thomas Massie could defect to Musk’s party, threatening to fracture the conservative vote during the 2026 midterms.

Musk has made his political strategy clear: focus on just “2 or 3 Senate seats and 8 to 10 House districts.” Such micro-targeting could disrupt key swing races in Congress, especially with razor-thin majorities in both chambers. Critics question whether this approach can scale into a viable third party. Bloomberg columnist Francis Wilkinson argued that without changing the electoral structure, the impact will remain limited. Collin Anderson, a political science professor, echoed this skepticism but noted that a post-Trump political vacuum might present an opening for Musk to make a meaningful play.

While the America Party lacks formal structure—there’s no official website, platform, or congressional representation—its ideology is beginning to take shape. A reposted “platform sketch” from Tesla Owners Silicon Valley outlines a vision built on Bitcoin adoption, fiscal conservatism, AI-driven defense initiatives, pro-natalism, and an aggressive push for free speech. These themes echo Musk’s long-standing public stances but now carry political weight.

Musk’s re-entry into politics is not without baggage. Earlier this year, he campaigned in the Wisconsin Supreme Court race, supporting Republican candidate Brad Schimel with two $1 million giveaways. Donning a cheese hat and declaring the vote a “super big deal,” Musk failed to swing the race; Democrat Susan Crawford won by 10 points. A lawsuit challenging Musk’s campaign tactics is now pending. On the business front, repercussions have followed. Tesla’s stock dipped after the America Party announcement, and Azoria CEO James Fishback publicly canceled plans for a Tesla-linked ETF, citing Musk’s divided attention.

Crypto figures have reacted with cautious optimism. Nic Puckrin, founder of The Coin Bureau, remarked that Bitcoin prices tend to rise when confidence in the U.S. dollar erodes, implying Musk’s crypto-centric narrative could gain traction in turbulent fiscal times. Still, Puckrin and others remain unconvinced that public enthusiasm online will translate into political capital. Musk’s poll on X, asking followers about forming the party, drew 1.24 million votes with nearly two-thirds in favor. Yet without traditional infrastructure or grassroots mobilization, translating social media engagement into electoral outcomes remains uncertain.

Musk has called for followers to suggest locations for the party’s first meeting, underscoring the ad hoc nature of its formation. With no clear roadmap beyond provocative statements and X polls, the America Party’s future remains as volatile as the crypto assets it champions. Still, by fusing political ambition with a pro-Bitcoin stance, Musk is rewriting the script on how tech moguls engage with power—and how digital assets like Bitcoin can evolve from financial tools into political ideologies.

This article has been refined and enhanced by ChatGPT.