VISI.NEWS | BANDUNG – Tech mogul and X (formerly Twitter) owner Elon Musk announced the formation of a new political party — the America Party — in a bold move aimed at disrupting the long-standing two-party system in the United States.
In a post on July 7 via his official X account, Musk described the initiative as a solution to what he sees as a centrist deadlock in American politics. Responding to a user who asked if the party would support Bitcoin, Musk stated, “Fiat is hopeless, so yes,” signaling strong support for cryptocurrency and a shift away from traditional fiat currencies.
The statement quickly gained traction among prominent crypto figures. Bitcoin advocate Max Keiser and IBC Group founder Mario Nawfal both voiced support for Musk’s political vision. Nawfal emphasized crypto’s potential as a tool to combat inflation and government overspending.
“Crypto could be the strongest tool to fight inflation and Washington’s addiction to money printing,” Nawfal said.
Joe Burnett, Director of Bitcoin Strategy at Scientific, also weighed in, backing Musk’s criticism of fiat and suggesting digital currencies could help create more efficient government systems.
“It’s less about politics and more about restructuring economic incentives,” Burnett noted.
Musk first floated the idea of the America Party on July 4 with a poll on X asking whether the U.S. needed independence from the current two-party system. Over 1.2 million users participated, with 65.4% voting in favor of the new party.
Although still in its early stages, Musk outlined a strategy for gaining influence: win two to three seats in the Senate and eight to ten in the House of Representatives — enough to sway tight legislative votes and represent what Musk calls “the true will of the people.”
Not everyone is on board with Musk’s political aspirations. Former President Donald Trump, once an ally of Musk, sharply criticized the idea of a third party, calling Musk “off the rails” and warning that such efforts have historically failed in the U.S.
“The system isn’t designed for them,” Trump wrote on TruthSocial.
The tension between Musk and Trump has intensified in recent months. In June, Musk lambasted Trump’s proposed $3.4 trillion Big Beautiful Bill, calling it a “disgusting abomination” and accusing Republicans of betraying fiscal conservatism. The bill, which narrowly passed in the House, includes major tax cuts, spending reductions, and key Trump policies.
As Musk’s political and economic vision begins to take shape, the America Party could signal a seismic shift — both in Washington and in the wider debate over the future of currency. @ffr
