- Why Musk Decided to Launch a New Political Party
- The Party’s Ideology And Goals
- From Crypto Investor to Political Leader
- Cryptocurrency’s Role In the Party’s Platform
- Crypto Market Reaction to Musk’s Announcement
Elon Musk is one of the most prominent and influential entrepreneurs of the 21st century. His name is synonymous with innovation in technology, space exploration, and automotive design — but in recent years, he’s also become increasingly involved in political debates. In 2025, Musk took it a step further by announcing the creation of his own political party, while openly voicing his support for cryptocurrencies.
Why Musk Decided to Launch a New Political Party
Musk has frequently criticized the U.S. two-party system, claiming it no longer represents the interests of ordinary citizens and instead serves political and financial elites. In his view, both major parties — Republicans and Democrats — are out of touch with the country’s real needs and incapable of offering effective solutions for the future.
Musk has actively used his platform X (formerly Twitter) to engage with the public, frequently running polls and discussions. On July 4, 2025, he held a massive vote among his followers, with over a million people supporting the idea of forming an independent party. This vote marked the official starting point for what would become a new political force.
A key trigger behind the move was the U.S. government’s decision to raise the national debt ceiling — a move Musk condemned as “irresponsible” and a threat to future generations. He’s consistently advocated for transparency in government spending, cutting wasteful expenses, and fighting corruption.
The Party’s Ideology And Goals
Freedom, Transparency, Innovation
Musk’s party is called “America.” Its core values center on restoring genuine democracy, promoting innovation, and ensuring transparency in every aspect of public life. Musk emphasizes that the party doesn’t aim to dominate, but rather to act as a “golden share” in Congress — influencing key decisions where it matters most.
A Strategic Approach to Power
Instead of attempting to win across the board, Musk’s party plans to secure a select number of seats in the Senate and House of Representatives. This targeted strategy would give it enough influence to either support or block major legislative initiatives.
Focused on the Next Generation
Musk’s party positions itself as a champion for younger voters, open to new technologies and supportive of a digital economy. This progressive, tech-forward stance sets it apart from traditional political parties and makes it especially appealing to modern, innovation-minded citizens.
From Crypto Investor to Political Leader
Elon Musk has long been one of the most influential figures in the crypto market. His public statements have famously triggered major price swings for Bitcoin, Ethereum, and Dogecoin. Back in 2021, Tesla invested $1.5 billion in Bitcoin and even briefly accepted it as payment for cars. Musk has also dubbed Dogecoin the “people’s crypto.”
Cryptocurrency’s Role In the Party’s Platform
As part of his new political venture, Musk made several key pledges about crypto:
1. Legalization and Mass Adoption: The America Party supports recognizing cryptocurrencies as legal tender and creating the conditions for their widespread use in the U.S. economy.
2. Transparency and Anti-Corruption: Musk believes blockchain and digital currencies can increase transparency in financial systems and help combat corruption.
3. Technological Sovereignty: Musk stresses that the U.S. should strive to be the global leader in blockchain and digital currency technologies.
Crypto Market Reaction to Musk’s Announcement
Musk’s announcement about launching the America Party — along with his open endorsement of Bitcoin — sparked immediate movement in the crypto market.
Meme Coin Frenzy
Following Musk’s statement, the platform Pump.fun saw the rapid creation of a meme coin called America Coin (AP), which surged 120% within hours, hitting a market cap of $18 million. On the Solana network, the America Party (AMERICA) token skyrocketed by over 12,000%, with its capitalization surpassing $7 million. However, Musk himself did not directly endorse these tokens.
New tokens associated with Musk’s name and party quickly began appearing on decentralized exchange rankings — clear evidence of speculative excitement among crypto traders.
Dogecoin’s Response
Dogecoin, Musk’s long-time favorite meme coin, climbed more than 5% in the 24 hours following the party announcement — rising from $0.163 to $0.171. Trading volumes spiked, surpassing $1.1 billion, driven in large part by large holders (whales) buying in — signaling a renewed wave of institutional interest in DOGE.
That said, after its initial surge, Dogecoin’s price stabilized, and trading volumes fell by 59%. Yet, large investors continued to accumulate the token, hinting at long-term confidence in its potential.
Bitcoin’s Reaction
Musk also confirmed that his party would officially support Bitcoin, calling fiat currency “hopeless.” This bold statement boosted investor sentiment around Bitcoin and added optimism to the broader crypto market. Bitcoin’s price firmed up after the announcement, as traders interpreted it as a potential sign of greater government-level acceptance of crypto in the U.S.
The market grew increasingly hopeful about future crypto regulation and the integration of digital assets into the U.S. economy.
