Famous American entrepreneur Elon Musk has recently announced a new political party, the “America Party,” following his recent outbursts with U.S. President Donald Trump. He has also revealed that his party would support and hold bitcoin (BTC), the world’s leading crypto asset.
Notably, Musk first announced appreciation for Bitcoin in 2024, when he started supporting Trump’s presidential campaign. He noted that since Trump’s lengthy speech on BTC adoption in the Bitcoin 2024 conference reshaped his view and made him begin to see “Value in Bitcoin.”
America Party to Hold BTC
Following the American party’s launch and ongoing advertisements by the entrepreneur, a user on Musk’s X social media platform asked whether the new political party would embrace Bitcoin. Without delay, Musk replied, saying:
Fiat is hopeless, so yes
— Elon Musk (@elonmusk) July 7, 2025
Remarkably, recent postings from the billionaire entrepreneur reveal that the new party would compete with and plans to fix the flaws of the existing U.S. government.
In his X post on Saturday, Musk wrote, “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.”
Musk, Trump Issues
Notably, Musk and Trump have collaborated on numerous initiatives in the United States. With Musk serving as Trump’s presidential campaign advisor, he contributed to his election success. In the process, Trump established a new government agency, the Department of Government Efficiency (D.O.G.E.), which Musk led.
However, the friendship broke when an issue arose between the famous Tesla owner and the American President following a few policy amendments by the new President. On June 5, Musk spoke out against one of the key domestic policies initiated by the Trump administration. Thereafter, both influential figures lashed out at each other via their individually owned social media platforms, Truth Social and X.
Notably, both figures didn’t take it lightly. After Trump voiced disappointment on Musk’s complaints, he entrepreneur tagged Trump as ungrateful, saying, “Without me, Trump would have lost the election.”
