Elon Musk Establishes "America Party" Supporting Bitcoin, Declares: "Fiat Is Hopeless"

Elon Musk – the tech billionaire, CEO of Tesla and SpaceX – has officially announced the establishment of a new political party called America Party, while asserting that this party will fully support Bitcoin. On the platform X (formerly known as Twitter), he stated emphatically: "Fiat is hopeless," clearly showing a stance against the current fiat system and leaning entirely towards encryption. This Event Occurs After A Public Confrontation With President Donald Trump Just two days before announcing the establishment of the America Party, Elon Musk continued to publicly criticize Donald Trump, who was once his close friend and political ally. The tension between the two reached its peak when Trump, on the Truth Social platform on Saturday night, called Elon a "train wreck" and expressed his disappointment at seeing Elon "self-implode in public." Earlier, Elon criticized Trump for "abandoning the political center," and conducted a poll on platform X, asking followers whether he should establish a new party representing "80% of the people in the middle." The result: nearly 80% of participants agreed – and Elon immediately took action. Elon Rejects Collaboration With Andrew Yang And The Libertarian Party Before founding the America Party on his own, Elon was approached by many political figures. Andrew Yang – who was supported by Elon in the 2020 presidential campaign – shared with Politico that he hoped to form a party together with Elon or at least receive support for his Forward Party. However, Elon did not respond. The chairman of the National Committee of the Libertarian Party, Mr. Steven Nekhaila, also reached out to Musk last week, but there has been no collaboration. Conflicts Surrounding the "One Big Beautiful Bill Act" and the Promise of Retaliation The explosive point between Elon and Trump stems from a law called the One Big Beautiful Bill Act, which Elon believes betrays the interests of the American people and undermines the spirit of neutrality. As this bill is about to be passed by the Senate, Elon declares that if it is signed into law, he will: Establish the America Party. Support candidates challenging Republican lawmakers who have supported this law in the upcoming primary elections. The bill was passed by the House of Representatives on July 3, and as promised, Elon took action: launching another survey, announcing the initial political strategy, and calling the two major parties a "single party" with no substantial differences. Challenges Ahead: Legal, Reputation, and Leadership Although Elon has a huge fortune and a large following, making the America Party a real political force will be extremely difficult: Media outlets like the Washington Post have pointed out that Elon once failed to influence the 2025 Wisconsin Supreme Court election. His lackluster performance at the Government Efficiency Reform Office – where he served as a special advisor – has negatively impacted his image among certain voter groups. Introducing a new party into the electoral race in all states will be a tiring, costly, and complex legal journey. More importantly, Elon was born in South Africa, so he does not meet the constitutional requirements to become President of the United States. To date, he has not announced who will be the presidential candidate representing the party or the internal organizational structure of the America Party. A New Party - Unclear Shape - With Bitcoin as the Symbol Currently, the "America Party" only exists in the shadow of Elon Musk, with Bitcoin as the financial symbol and a block of potential voters who are tired of the two traditional parties. The future of this party is still unclear, but Musk's political move could be a major turning point for both the cryptocurrency movement and the political landscape in the United States in the coming years. With the statement "Fiat is hopeless", Elon is betting big on the future of Bitcoin not just as an asset, but as a new political-financial philosophy for America.