- Elon Musk’s America Party aims to challenge Trump-backed lawmakers.
- The crypto chatter continues as Bitcoin and Dogecoin rally amid political tension.
The friction between Donald Trump and Elon Musk is intensifying, capturing renewed public and media interest.
The latest clash stems from Musk’s announcement of a new political initiative, the “America Party”, which he claims is a direct response to Trump’s controversial tax-cut and spending bill, aka the “Big Beautiful Bill.”
‘Fiat is hopeless’
Musk argued that the bill, if enacted, could drive the country toward economic collapse. He even took to X to criticize the proposal, referencing his brief stint at a government downsizing agency.
“What the heck was the point of @DOGE if he’s just going to increase the debt by $5 trillion??”
Taking advantage of the situation, Musk revealed that his newly formed “America Party” aims to challenge Republican lawmakers in next year’s midterm elections, specifically targeting those who supported the controversial bill.
Later, user Renato Lima asked him,
“Will America Party embrace Bitcoin?”
To this, Musk replied,
“Fiat is hopeless, so yes.”
However, what began as a bold political move quickly spiraled into a heated exchange between Musk and President Donald Trump.
Trump couldn’t keep calm
The two influential figures have reignited their public feud, with Trump taking direct aim at Musk’s latest venture into politics with a post on Truth Social.
“I am saddened to watch Elon Musk go completely “off the rails,” essentially becoming a TRAIN WRECK over the past five weeks. He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States – The System seems not designed for them.”
He further added,
“The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS…”.
Musk too couldn’t keep quiet and responded to Trump by saying,
“What’s Truth Social? Never heard of it.”
That being said, Musk’s longstanding support for cryptocurrencies remains evident, with both Tesla and SpaceX holding Bitcoin in their treasuries.
But Musk’s fierce criticism of Trump’s “Big Beautiful Bill,” which he dubbed the “debt slavery bill,” and the launch of the America Party have turned it into a bold political statement that’s now rippling through the crypto landscape.
The market turned bullish
Interestingly, the escalating tensions between Musk and Trump appear to have sparked positive movement in the crypto market.
Bitcoin [BTC] climbed 1.12% to $108,980.11, while Dogecoin [DOGE] jumped 4.48% to $0.1731, according to CoinMarketCap.
This marked a sharp reversal from the recent dip that followed the initial clash between the two figures, when Bitcoin briefly dropped from $107K to $105K.
The crypto community also couldn’t resist
However, the crypto community couldn’t shut down, causing a lot of chatter. X user Sujal Jethwani said,
“@realDonaldTrump has already talked about crypto adoption in his election campaigns. Now @elonmusk is doing the same. This could be a strategy to attract more supporters.”
Echoing a similar sentiment, a YouTube influencer, Rananjay Singh, added,
“Elon Musk’s new political party will embrace $BTC. The same system that once feared #Bitcoin, now wants to use it for votes and power. Is this real adoption, or just politics playing crypto? Either way, the market is watching.”
As Musk and Trump’s feud intensifies, the crypto market appears to be trading not just on charts, but also on the clashes.
With the situation still unfolding, all eyes are on what happens next.
