On July 5, 2025, Elon Musk announced the formation of the America Party, aimed at reforming the U.S. political system and challenging the two-party structure.
Formation of America Party
Elon Musk announced the formation of the America Party, stating that the current political system resembles a monopoly rather than a democracy. "You want a new political party, and you shall have it! We live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom." - Elon Musk.
Support for the Initiative
A social media poll revealed 65.4% public support for the new party, indicating significant public interest in political change.
Impact on Cryptocurrency Markets
Despite the significance of the America Party's formation, there was no immediate reaction in the cryptocurrency markets. Bitcoin, maintaining 64.66% dominance, continues to show stable performance, trading at $108,158.70, with a market capitalization of $2.15 trillion.
The formation of the America Party by Elon Musk could be a significant step in reforming the U.S. political structure; however, its impact on financial and cryptocurrency markets remains minimal at this time.
