Elon Musk Forms “American Party” Citing Fiscal Concerns

Elon Musk announced the formation of the “American Party” via his social media platform (X) on July 6, 2025, aiming to challenge the current political balance in the U.S.

Elon Musk’s “American Party” launch followed his criticism of a Congressional spending bill increasing the U.S. deficit. Musk argues this fiscal move might intensify economic distress and potentially lead to national bankruptcy. He stepped down from the Department of Government Efficiency, where he previously served under President Trump, to focus on this initiative.

Elon Musk Launches American Party Amid $2.5 Trillion Deficit

The rise in the fiscal deficit to $2.50 trillion during Trump’s administration has seen varied reactions. Musk’s focus on governmental efficiency highlights concerns about political and fiscal sustainability. His dissatisfaction with current fiscal policies is shared by a significant portion of the U.S. populace, as per his online poll results.

This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.

This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it. source

Bitcoin Steady Despite Musk’s Political Maneuvering

Did you know? Musk’s formation of a political party as a response to fiscal concerns is unprecedented, drawing parallels to past U.S. corporate leaders’ involvement in politics.

Bitcoin’s current price stands at $109,485.08, boasting a market cap of $2.18 trillion and dominating 64.51% of the market. According to CoinMarketCap, it demonstrates a 1.15% price increase in the last 24-hour trading with a volume of $37.69 billion. Notably, its 90-day price surge is 36.06%.

According to Coincu research, Musk’s critique of fiscal policies could lead to shifts in political discourse and regulatory frameworks. Past market reactions to political controversies have impacted risk assets, but no immediate link between Musk’s actions and cryptocurrency fluctuations has been observed.