Elon Musk Initiates Formation of New ‘America Party’

Elon Musk has publicly announced the founding of a new U.S. political entity known as the “America Party,” according to various reports on July 6, 2025, in the United States.

This initiative aims to challenge the current two-party system, which Musk criticizes as monopolistic. While major cryptocurrencies surged in value, no direct impact from Musk’s political move was observed.

Musk’s “America Party” Targets Swing Districts

Elon Musk has introduced the “America Party”, targeting 2 to 3 Senate seats and 8 to 10 House seats in key U.S. swing districts. Musk’s strategy diverges from traditional third-party approaches by focusing on narrow but impactful Congressional influence.

The plan seeks to alter legislative dynamics through strategic seat targeting, leveraging X platform’s resources and PACs. This move is a direct challenge to the existing two-party system, with Musk emphasizing voter freedom and democratic access.

“One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts. 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.” — Elon Musk, CEO, X/Tesla/SpaceX

Cryptocurrency Markets React Amid Political Shift

Did you know? The “Reform Party,” spearheaded by Ross Perot in the 1990s, faced challenges similar to those the “America Party” might encounter, showcasing the difficulty of establishing a third-party foothold in U.S. politics.

According to CoinMarketCap, Bitcoin (BTC) witnessed significant engagement, with a current price of $108,796.68 and a staggering 24-hour trading volume of $33.49 billion. The circulating supply nears its maximum at 19,888,543 BTC. Its 60-day price change recorded a 13.00% increase, maintaining its position as a dominant force in the cryptocurrency market.

From the Coincu research team, historical trends suggest third-party movements, like Musk’s, may introduce financial uncertainty, yet seldom lead to immediate policy shifts. Such political endeavors may trigger volatility but rarely conceivably reform entrenched systems without substantial grassroots support.