Tesla and SpaceX CEO Elon Musk has officially launched a new political party in the United States called the “American Party.” He wants to shake up the two-party system, and apparently Bitcoin will be part of it.
He announced it on social media platform X. After a poll in which 2/3 of the 12.4 million voted for the new party.
“When it comes to bankrupting our country with waste and grafts, we live in a one-party system, not a democracy.” He wrote. “Today, the American Party is formed to give you your freedom back.”
Musk has revealed that he will support Bitcoin, as the US party called the US dollar and the Fiat system “desperate.” When asked if the new party would support Bitcoin, he replied, “Fiat is hopeless, so yes.”
Musk has long been a vocal digital asset supporter. Together, Tesla and SpaceX hold nearly 19,794 BTC, according to Bitcointreasuries, worth more than $2 billion at the time of writing.
Under the leadership of Mask, Tesla became one of the first major companies in the Treasury to hold Bitcoin. I bought $1.5 billion in BTC in 2021.
By making Bitcoin part of the American Party’s platform, Musk uses it as a symbol of economic reform and personal empowerment.
Analysts believe that Musk’s Bitcoin approval could increase its mainstream appeal and even affect the debate on US monetary policy.
Musk’s new political movement follows a very public set of disagreements with President Donald Trump. They worked closely together, so Musk was even given a leader in a government agency called Government Efficiency (DOGE).
But their relationship was sour, with Trump’s “big and beautiful bill,” a mask in a $3.4 trillion spending package mask, was severely criticised.
Musk called the bill “unpleasant hatred,” adding trillions to national debt and damaging the US economy. The bill would increase the debt cap by $5 trillion as the overall US debt has swelled to more than $37 trillion.
“If the US doesn’t do something about national debt, the dollar is worth nothing.” He wrote to X.
Trump replied, “The third party has never been successful in the US,” and Musk accused him of “completely off the railroad.”
The American Party will soon focus on the 2026 midterm House and Senate races rather than the presidential candidate. Musk said the party could waive close votes in Congress by targeting several major districts.
“One way to do this is by focusing laser focus on just two or three Senate seats and eight to 10 residential areas.” Posted by Musk. “That alone will serve as a decisive vote against controversial laws.”
The party is protection, anti-regulation, professional-free speech, and uses Bitcoin as a symbol of freedom and financial responsibility. This replaces Musk’s terminology for the US “uniparty” system, the long-standing balance of power between Democrats and Republicans.
Will turning Bitcoin into a political issue speed up acceptance as a mainstream asset, or will it hurt adoption as it becomes involved in political dramas?
No one knows the answer, but it’s certainly true. Bitcoin is now in the political space, and other politicians have to take an stance about it.
