Tesla’s CEO pledges support for Bitcoin in his new political movement against the two-party system.
Tesla CEO Elon Musk has confirmed that his newly formed political movement, the America Party, will actively support Bitcoin as an alternative to the traditional monetary system. Replying to a user on X, Musk stated:
The announcement of the America Party came on Saturday, July 5, after Musk floated the idea through a poll on his social media platform. The South African magnate presented the movement as a necessary response to the corruption of the current political system, stating:
“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.”
The launch of the America Party represents an attempt to break the Republican-Democrat duopoly that has dominated U.S. politics for decades. Musk emphasized that the primary goal is to “restore freedom” to American citizens through innovative policies that include support for Bitcoin.
The electoral strategy will focus on targeted objectives rather than a nationwide campaign. Musk outlined a specific approach:
“One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts.”
This tactic aims to capitalize on the current razor-thin legislative margins, where even a small number of America Party representatives could exert decisive influence over controversial votes. The stated goal is to ensure that laws “serve the true will of the people” rather than the interests of entrenched power groups.
The break with Trump
The formation of the America Party follows Musk’s fallout with his former ally Donald Trump. The breaking point was the $3.4 trillion spending bill, nicknamed the “Big, Beautiful Bill,” which Musk described as “a disgusting abomination” for its devastating impact on the federal deficit.
Musk’s criticism is rooted in his previous role as head of the Department for Government Efficiency (DOGE), where he had worked to reduce federal spending. Trump responded by calling Musk “completely off the rails” and stressing that “a third party has never succeeded in U.S. history.”
The America Party is already attracting the attention of influential figures including billionaire Mark Cuban and Anthony Scaramucci, founder of SkyBridge Capital. The party has launched its official website, though it has not yet been formally registered with the Federal Election Commission. Musk has yet to provide a detailed roadmap for the party’s policy implementation.
