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Yahoo
11-07-2025
- Business
- Yahoo
'Fiat Is Hopeless': Elon Musk Says His 'America Party' Will Embrace Bitcoin
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Tesla (NASDAQ:TSLA) CEO Elon Musk is aligning his revolt against President Donald Trump's fiscal policies with Bitcoin. 'Fiat is hopeless, so yes,' he said Monday on X when asked whether his proposed political party, the America Party, would 'embrace Bitcoin.' Musk has teased the America Party for over a month, touting the proposed party as the alternative to what he described as 'the Democrat-Republican uniparty.' He said the party had been formed on Saturday, though it has yet to be registered with the Federal Election Commission. Don't Miss: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's , starting today. $100k+ in investable assets? – no cost, no obligation. 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,' he said. 'Today, the America Party is formed to give you back your freedom.' The multi-billionaire has expressed public disillusionment with the Trump administration and more broadly the Republican party over the so-called One Big Beautiful Bill Act, which the Congressional Budget Office said could add at least $3 trillion to the national deficit in the next decade. That outcome contrasts sharply with Trump's earlier rhetoric of cutting down government spending, which saw Musk briefly lead controversial cost-cutting measures at the Department of Government Efficiency. Musk appears set on disrupting the balance of power with the America party, following the blueprint outlined by New America Senior Fellow Lee Drutman in June. Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. Instead of going after the presidency or seeking an unlikely Congressional sweep, Musk said the party could focus on securing 'two or three Senate seats and eight to 10 House districts' in the 2026 midterm elections. 'Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people,' he said. Musk's alignment of these efforts with Bitcoin comes as advocates of the asset have said that the U.S.'s ballooning debt burden only reinforces the need for hard assets. Meanwhile, Musk is no stranger to the asset. SpaceX and Tesla hold 11,509 BTC and 8,285 BTC, respectively, on their balance sheets. Tesla also briefly accepted Bitcoin for payments in 2021. Musk has also recently stoked speculation that he has been secretly accumulating the asset. He liked a post by a bitcoiner suggesting he was doing so in response to a question over why he has stopped talking about the asset despite his public opposition to government cryptocurrency industry leaders fully supported Trump during the 2024 election in hopes of ending hostility from regulators. From dismissed Securities and Exchange Commission lawsuits to a rollback of anti-cryptocurrency guidance by banking regulators and the establishment of a strategic Bitcoin reserve, the industry has gotten its desired outcome and some. But most of these industry leaders also expressed opposition to the Trump-backed One Big Beautiful Bill Act. If Musk follows through on his vow to launch the America Party, it will be interesting to see if loyalties shift during the midterms and the political fallout. Despite courting from Musk, Bitcoin continues to trade sideways at $108,000. Read Next: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O'Reilly and Rudy Giuliani are . Image: Shutterstock This article 'Fiat Is Hopeless': Elon Musk Says His 'America Party' Will Embrace Bitcoin originally appeared on Sign in to access your portfolio
Aktuality.sk
09-07-2025
- Politics
- Aktuality.sk
Historické hlasovanie o Európskej komisii: Aké budú dôsledky
If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.
New Indian Express
07-07-2025
- Politics
- New Indian Express
US President Donald Trump ridicules Elon Musk's new party
US President Donald Trump slammed Elon Musk's decision to start a new party as a challenge to the Democrat-Republican duopoly. He said it was 'Ridiculous' and called his former friend a Train Wreck on Truth Social.
Time of India
07-07-2025
- Automotive
- Time of India
Elon Musk's America Party: Challenging the political status quo
A tax bill created a rift between Donald Trump and Elon Musk, leading Musk to form the "America Party" on July 6. Aiming to challenge the US two-party system, Musk seeks targeted influence in Congress. Trump criticised the move, citing historical failures of third parties in American politics. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Who knew a tax bill would create a rift between allies Donald Trump and Elon Musk, two of the most powerful men in the world? That rift has now led to the formation of another party in the US, where politics is primarily dominated by the Democratic and Republican July 4, when the US was celebrating Independence Day, the US Senate passed President Trump's ambitious 'big, beautiful bill,' with Vice President JD Vance having to break a 50–50 the very day the bill was passed, Musk, on his social media platform X, posted a poll asking users if the 'America Party' should be Tesla boss posted, 'Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system!'Around 65% of users clicked 'yes.' That sealed the so, Musk fulfilled the promise he made on July 1. He had vowed to form the America Party if the tax bill passed, arguing that the country needs an alternative to the 'Democrat-Republican uniparty.'No other details about the party followed. Just a plan on how to fight the fight.'One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,' he said.'Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people,' he July 6, he announced: 'Today, the America Party is formed to give you back your freedom.'He referred to the legacy of Epaminondas, the Greek general credited with ending the 'myth of Spartan invincibility' at the Battle of Leuctra. That's how he planned to win the battle.'Extremely concentrated force at a precise location on the battlefield,' he that same day, a Federal Election Commission (FEC) document began making the rounds on social media, revealing that Musk had registered the America Party with the who had largely remained silent on the whole 'new political party' matter, said on Monday on his microblogging platform that he is 'saddened' to watch Musk go completely 'off the rails' in recent weeks.'He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States — The System seems not designed for them," Trump concern or not, his statement does contain some truth. Historically, third-party movements in the US have struggled to gain real traction, according to the Times of India. One of the most notable cases was Texas billionaire industrialist Ross Perot's 1992 presidential bid; he secured almost 19% of the popular vote but failed to win a single Electoral College hasn't promised or even suggested that he wants his 'America Party' to become a major party, at least not as of now. Just change. And enough power to 'give you back your freedom'.
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Business Standard
07-07-2025
- Automotive
- Business Standard
Tesla's money man Vaibhav Taneja joins Musk's America Party as treasurer
Tesla's Chief Financial Officer, Vaibhav Taneja has been appointed the Treasurer and Custodian of Records for Elon Musk's newly formed political organisation, the America Party. Taneja's appointment comes a day after Elon Musk announced the formation of the America Party. The move follows a public disagreement with US President Donald Trump over the passage of a massive tax-cut and spending bill, the Financial Express reported. The legislation — called the 'One, Big, Beautiful Bill' by Trump — was signed last week. Musk, however, criticised the bill as 'fiscally irresponsible' and a 'betrayal' of efforts to reduce the size of government. Who is Tesla's money man Vaibhav Taneja? Indian-origin Vaibhav Taneja (47) is a Chartered Accountant and a commerce graduate from the University of Delhi. His career began at PricewaterhouseCoopers (PwC), where he worked for 17 years in both India and the US from 1999 to 2016. He later joined SolarCity Corporation in 2016 as Vice-President and Corporate Controller. That same year, following Tesla's acquisition of SolarCity, Taneja played a key role in integrating the accounting operations of the two companies. He joined Tesla in 2017 and rose steadily through the ranks, becoming Chief Accounting Officer in 2019 and Chief Financial Officer in August 2023. Taneja has also served as Director of Tesla India Motors and Energy Private Limited since 2021. Musk launches new political party Musk unveiled the party on his social media platform X, citing an online poll in which 65.4 per cent of respondents supported the idea of launching a new political party. 'By a factor of 2 to 1, you want a new political party and you shall have it! When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom,' Musk posted on X. By a factor of 2 to 1, you want a new political party and you shall have it! When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom. — Elon Musk (@elonmusk) July 5, 2025 On July 1, after the tax and spending bill was passed in the Senate, Musk posted on X, 'If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.' After Musk announced the launch of his new party, Trump on Sunday brushed off Elon Musk's newly formed America Party, calling it 'ridiculous' and reaffirming his belief in the traditional two-party structure, Bloomberg reported. Musk exits Trump orbit, sparks shift When asked about Musk's announcement, Trump said, 'We've had tremendous success with the Republican Party. The Democrats have lost their way, but it's always been a two-party system.' He went on to say that 'starting a third party just adds to the confusion' and added, 'Third parties have never worked. He can have fun with it.' The world's richest man, once a prominent political donor to Donald Trump during the 2024 campaign, has gradually distanced himself from Trump. Musk previously led Trump's short-lived Department of Government Efficiency (DOGE) but resigned from the role in May this year. Since stepping down, Musk has become increasingly vocal in his criticism of Republican lawmakers and has warned that he may support an alternative political movement if Trump's allies persist in backing his key economic proposal.
