The creation of a new political party by Elon Musk has sparked lively discussions in the financial and political realms. The party has claimed support for Bitcoin as a form of currency.
Musk Confirms Creation of Bitcoin Party
Elon Musk confirmed that his new political party, named America, will accept Bitcoin. This statement was made in response to a user's question on X about the party's stance on cryptocurrency. Musk replied, 'Fiat is hopeless, so yes.' The party aims to challenge lawmakers who supported the 'Big Beautiful Bill,' which Musk believes could negatively impact the U.S. economy.
Musk-Trump Conflict Over Debt Bill
The conflict between Trump and Musk intensified after Musk criticized the proposed 'Big Beautiful Bill,' which is estimated to increase the U.S. national debt by $3.3 trillion over ten years. Musk labeled the bill as 'utterly insane and destructive,' claiming it would lead to millions of job losses and severe economic consequences.
New Party Targets Congress Amid Trump Criticism
The newly formed political party by Elon Musk aims to focus on congressional elections. It seeks to disrupt the traditional two-party system in the U.S. and promote fiscal responsibility, decentralized governance, and the support of digital currencies. In response to Musk's comments, Trump described the new party as a 'train wreck,' warning that it could divide Republican votes in the upcoming elections.
The establishment of Elon Musk's new party has triggered significant reactions in the political and financial sectors. The responses to his ideas about Bitcoin and the party's purpose of challenging traditional norms continue to evolve.
