Elon Musk and the New American Party: Commitment to Bitcoin and Criticism of Fiat

Jakarta, Pintu News – Elon Musk, CEO of Tesla and SpaceX, recently announced the formation of a new political party called the America Party. In the announcement, Musk also affirmed his support for Bitcoin (BTC) and expressed his distrust for fiat currencies which he referred to as ‘hopeless’. This move has attracted great attention and optimism among the crypto community.

Musk’s Support for Bitcoin

Elon Musk has long been known as a supporter of cryptocurrencies. Both Tesla and SpaceX, the two major companies he leads, have Bitcoin (BTC) in their corporate coffers. Data from Bitcoin Treasuries shows that Tesla has 11,509 BTC, making it the 8th largest BTC holder among publicly listed companies. Meanwhile, SpaceX has 8,285 BTC.

This endorsement not only shows Musk’s confidence in Bitcoin (BTC), but also its potential to transform the global financial system. By adopting Bitcoin (BTC) as part of his party platform, Musk is showing a futuristic vision in politics as well as economics. It also signals a possible shift in the acceptance of cryptocurrencies on a broader level, especially in government and public policy.

Also Read: US Tariff Delay Could Make Bitcoin Set a New Record This Week, What’s Really Happening?

America Party Formation and Strategy

Elon Musk’s creation of the America Party is a bold move in the political landscape of the United States, which has been dominated by the two major parties, the Democrats and Republicans. While new parties often face challenges in gaining influence, Musk has a different plan. He suggests that his party focus on House district elections and Senate seats, rather than just presidential elections.

With this strategy, Musk believes that the America Party can gain enough political leverage to influence lawmakers’ decisions. This approach, if successful, could change the dynamics of political power in the United States and open a new era for third parties in American politics.

Reaction and Support for the America Party

Although the idea of forming an America Party has been criticized by some, including President Donald Trump who called it ‘ridiculous’, support has also come from some prominent figures. Anthony Scaramucci, founder of SkyBridge Capital, and American billionaire Mark Cuban, have shown their support for the initiative.

The support from these figures shows that there is significant interest in the new approach to American politics proposed by Musk. In addition, by using X social media platform to poll and gather support, Musk has the advantage of mobilizing support quickly and efficiently. This demonstrates America Party’s potential to become a significant force in American politics, despite its challenges.

Conclusion

Elon Musk’s move to establish the America Party and adopt Bitcoin (BTC) as part of its platform marks a pivotal moment in the relationship between technology, politics, and economics. With strong support from the crypto community and several business leaders, as well as an innovative strategy, the America Party might just become a new force in American politics that could change not only the map of power but also the way digital currencies and finance are viewed in the future.

Also Read: Russia Launches National Register of Crypto Mining Rigs: Cryptocurrency Miners Taxed?

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Reference

• BeInCrypto. America Party Launches Bitcoin Platform. Accessed on July 8, 2025