Musk’s America Party may support Bitcoin but still faces third-party pitfalls
Elon Musk says that his new America Party will support Bitcoin, but does it have a chance in the American political system?
The growing rift between Tesla CEO Elon Musk and US President Donald Trump turned into a gulf on July 5 when Musk announced the independent America Party, supposedly focused on Bitcoin and centrist policies.
The move was catalyzed by Congress passing the Trump administration’s controversial One Big Beautiful Bill Act. According to Musk, the bill flies in the face of the administration’s initial efforts to cut government spending.
The America Party has yet to hold a formative congress or issue a specific platform. Little is known about the party’s stance, beyond Musk’s vague comments of a preference for centrism, deregulation, reduction of government spending and support for Bitcoin (BTC).