Tesla and SpaceX founder Elon Musk has announced the formation of a new political party, America Party, openly supporting Bitcoin and aiming for changes in U.S. economic policy.
Reasons for the Creation of America Party
The creation of the new party stemmed from disagreements between Musk and former President Donald Trump. Following critical remarks regarding the federal budget and the "Great Beauty Act" bill, Musk decided to start America Party to promote his ideas and values.
Goals and Ideology of America Party
The America Party focuses on reducing the government budget, supporting technological innovations, and protecting social freedoms. Its core principles include:
1. Cutting the budget and eliminating waste. 2. Investing in technology and rejecting inflation-driven growth. 3. Protecting individual freedoms and resisting moral policing.
Impact on the Crypto Industry and U.S. Politics
Musk articulates his stance on Bitcoin, stating that "fiat is hopeless." This could lead to Bitcoin becoming a significant political topic in the 2026 and 2028 elections. Additionally, support for cryptocurrency may popularize the idea of creating strategic Bitcoin reserves in legislation.
The establishment of the America Party by Musk could significantly impact the U.S. political landscape and the crypto industry, fostering discussion and the implementation of new economic ideas. Regardless of the outcome, such initiatives hold the potential for change.
