- Elon Musk’s new party initiative follows Trump’s bill passage.
- Significant polling support of 80.4% noted.
- Potential implications for U.S. political landscape.
Elon Musk has proposed forming a new political party in the U.S., dubbed the “America Party,” as Trump’s “Big Beautiful Act” passes the House on July 4.
The initiative seeks to challenge the existing two-party system, with over 80% of poll respondents supporting a new party.
Musk’s “America Party” Gains 80% Public Approval
Elon Musk announced on July 4 his plan to form the “America Party” following the passage of Donald Trump’s significant bill. Musk’s July 4 poll indicated strong public support, with 40% expressing possible party support. On June 6, a similar poll showed an even higher endorsement, registering with over 5.63 million participants.
The suggested party aims to answer growing public frustration, especially after the approval of Trump’s “Big Beautiful Act.” According to Musk, this act necessitated an alternative to the Democrat-Republican structure.
The announcement caused ripples through financial markets, particularly among cryptocurrency stakeholders who anticipate pro-decentralization policies. No SEC or CFTC statements are available regarding potential regulation shifts.
Crypto Market Reacts to Potential Pro-Decentralization Policies
Did you know? In previous attempts, third-party initiatives like Ross Perot’s campaign and the Tea Party have struggled to disrupt the U.S. two-party system, impacting political but not directly affecting crypto markets.
CoinMarketCap reports Dogecoin (DOGE) at $0.17, holding a market cap of 24.95 billion USD, showing a 3.24% decrease over 24 hours as of July 4. The cryptocurrency has witnessed fluctuations with a 7-day increase of 4.14% and a 30-day decrease of 13.63%.
According to the Coincu research team, the introduction of pro-decentralized policies could significantly influence regulatory landscapes, with futuristic implications for blockchain applications. This aligns with Musk’s reputation for advocating technological advancement.
“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.” — Elon Musk, CEO, Tesla/SpaceX
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Source: https://coincu.com/346805-musk-america-party-initiative-trump/