Elon Musk’s America Party embraces Bitcoin as part of its pro-tech vision while clashing with U.S. fiscal policy. Musk has sharply criticized the Trump administration’s spending bill, calling it fiscally reckless.
The billionaire entrepreneur announced his new political movement on the social platform X. He declared that traditional fiat money “is hopeless” and Bitcoin offers a stronger alternative. This signals a shift toward digital assets in both politics and business.
The “America Party” aims to focus on technology, free speech, and deregulation. Musk intends to build grassroots support by targeting House and Senate races before considering presidential runs.
Meanwhile, this political development coincides with positive momentum in cryptocurrency markets. Bitcoin briefly surged above $109,000 following comments from U.S. Treasury Secretary Scott Bessent. He suggested several trade deals might close before July 9, reducing tariff uncertainties.
Other cryptocurrencies, including Ethereum, XRP, Solana, and Dogecoin, also posted gains. These market moves reflect optimism around easing trade tensions, which have affected global business and supply chains.
President Trump responded critically to Musk’s new party. On Truth Social, Trump called Musk a “train wreck” and said he had gone “off the rails.” Despite this, Musk’s embrace of Bitcoin highlights a growing trend of digital assets influencing business and politics.
Treasury Secretary Bessent emphasized the urgency of trade negotiations. The July 9 deadline will end the current tariff pause, potentially triggering tariff increases on August 1. This trade policy uncertainty adds pressure on businesses to adapt.
Elon Musk’s America Party embraces Bitcoin at a time when companies and investors closely watch fiscal and trade policies. The party’s focus on innovation and cryptocurrency reflects shifting attitudes in the business community.
In summary, Musk’s political and business moves intertwine as digital currencies gain relevance. Market watchers expect continued volatility but also opportunity as these forces evolve.
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