Elon Musk’s quarrel with President Trump took a new turn after Tesla CEO announced the formation of a new political party that will accept Bitcoin. According to Musk, this third party will aim to dislodge the legislators who supported the “Big Beautiful Bill”, which he considers capable of making the American economy collapse.
In short
- Musk confirms that his new political party will accept Bitcoin, calling the fiduciary currency “desperate” in response to a follower on X.
- The new party aims to challenge the supporters of the “Big Beautiful Bill” and to promote tax responsibility as well as decentralization.
- Tesla and SpaceX hold major Bitcoin reserves, highlighting the ancient Musk links with the crypto universe.
- Trump criticizes Musk's party, calling it “disaster”, and warns that he could divide the republican vote in the next elections.
Musk responds to an X user, confirms Bitcoin for the new party
Sunday, on X, Musk admitted that his new America party will accept Bitcoin. His statement came after a subscriber asked for the party's position on the use of cryptocurrencies, to which the SpaceX chief replied: “The fiduciary currency is desperate, so yes. »»
Musk is an omnipresent figure in the crypto environment, Tesla having been one of the first to enter the treasure of corporate cash flow in Bitcoin from 2021. Currently, the company of electric vehicles holds approximately 11,509 BTC, worth around 1.26 billion dollars at current market prices. According to Bitbo data, this reserve place Tesla as the ninth largest BTC corporate holder worldwide.
Elon SpaceX also has an important Bitcoin treasure in its corporate chests. The head of Tesla is also an influential presence in the Dogecoin community, his comments largely influencing the tendency of the cryptocurrency market to the meme.
Intervening on the current quarrel, Samson Mow, founder of Jan3, insisted that Musk's decision to accept the original crypto could place it in advance on Trump. Mow also suggested that Tesla should accept Bitcoin payments and even prompted SpaceX to offer discounts for payments made via this reference asset.
However, Musk has not always adopted a favorable position towards cryptocurrencies. In 2021, he launched an alarm on the Bitcoin price, saying that he was too high.
The Trump vs Musk quarrel intensified around the debt bill
The Trump-Musk quarrel intensified after Elon Musk criticized Trump about “Big Beautiful Bill”, which it is estimated to increase the US national debt by $ 3.3 trillion over the next ten years. The CEO of SpaceX qualified this new bill “completely insane and destructive”, saying that it would annihilate millions of jobs and would cause serious economic damage to the nation.
Musk also challenged Trump's logic to launch a Doge In order to fight against the rise of national debt, while adding thousands of billions of dollars itself to this debt. After the inauguration of Trump in January, the billionaire led the government of government efficiency, which aimed to reduce government spending.
In addition, the CEO of Tesla later stressed that The United States needs a new political party having at heart the interests of citizens.
The new Pro-Bitcoin party aims at Congress while Musk's political movements arouse negative reactions
The newly formed party mainly targets seats in the Chamber and the Senate, the plans for the presidential race being currently deemed premature. The party plans to gradually build its political relevance by targeting seats in the congress.
Party objectives include:
- Detach the traditional bipartite system in the United States.
- Promote tax responsibility and decentralized governance.
- Adopt modern solutions, including support for digital currencies such as Bitcoin.
- Support pro-Technology, pro-expression and anti-regulation pro-lesing policies.
- Adopt centrist positions on other key issues.
As expected, Elon Musk's comments sparked a wave of reactions in financial and political circles, some particularly negative. A few moments after Musk's statements on social networks, the US investment company Azoria Partners delayed the launch of a Tesla Stock Exchange Fund.
The CEO of this company, James Fishback, has claimed details of Musk's political intentions, declaring that this new political movement has eroded the confidence of investors. Fishback added that he expected Tesla's boss fully concentrating on the business after leaving Doge's head.
Trump criticizes Musk's new party as a “disaster” and warns of a division of republican vote
In a post on Truth Social, Trump responded to the announcement of Musk's party, qualifying Tesla CEO as a traveling disaster. He added that Musk had lost his way with his recent political adventure.
Trump also pointed out that the new party could affect Republican votes on bulletins in the next elections. This concern highlights the possible influence of a third force in a bipartite political system.
For the moment, this new movement has no official site or formal recognition, the details on the party mainly coming from Musk's comments on social networks.
Despite recent Musk's comments on Bitcoin, the original cryptocurrency has evolved relatively stable in the last 24 hours. At the time of writing, the asset is exchanged around $ 108,878, consolidating itself in this area from the notable transfer of large BTC by a long inactive wallet.
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