Elon Musk Slams Report Suggesting Withdrawal from Pro-Bitcoin America Party

TLDR

• Elon Musk denied a report that claimed he was abandoning plans to launch the America Party.
• The Wall Street Journal reported that Musk had halted his political project but he strongly rejected the claim.
• Musk previously supported Donald Trump in the 2024 elections and briefly served in his administration.
• His relationship with Trump soured after he criticized major policies and raised controversial allegations.
• Musk announced the America Party in July as an alternative to the two-party system in the United States.

Elon Musk has dismissed claims that he is abandoning his plan to launch a new U.S. political party. The Wall Street Journal reported Musk had halted efforts, but he rejected the claim immediately. His remarks have fueled more debate about his political ambitions and crypto advocacy.

Elon Musk Denies Report on Political Party Exit

Elon Musk publicly denied reports suggesting he would abandon the America Party project. He called the Wall Street Journal’s reporting inaccurate and misleading. On X, Musk declared, “Nothing @WSJ says should ever be thought of as true.”

His rebuttal followed speculation about his political conversations with Vice President J. D. Vance. Reports suggested Musk might support Vance if he runs for president in 2028. Musk’s dismissal has reaffirmed his ongoing interest in political involvement.

The billionaire originally announced the America Party in July. He described the initiative as a response to frustration with the U.S. two-party system. Musk also confirmed Bitcoin would play a central role in the party’s economic philosophy.

Rift with Trump Shapes Political Path

Elon Musk once supported Donald Trump during the 2024 presidential campaign. He even served briefly in Trump’s administration earlier this year. Musk acted as the informal head of the Department of Government Efficiency, known as D.O.G.E.

However, relations between Musk and Trump deteriorated quickly. Musk harshly criticized Trump’s major legislative effort, calling it flawed and wasteful. He also accused Trump of links to the Epstein scandal, though he later softened the allegation.

The fallout left Musk increasingly independent in his political vision. His America Party plan reflects his desire to challenge existing structures. Consequently, his stance continues to divide opinion across political and crypto communities.

Crypto Advocates Rally Behind America Party

Elon Musk gained backing from well-known crypto supporters after announcing the America Party. Tim Draper expressed strong optimism about Musk’s leadership and political goals. Draper said, “I believe Elon Musk is a gift to humanity from the gods.”

Mark Cuban, also a crypto enthusiast, endorsed Musk’s initiative earlier this year. Dogecoin developer DogeDesigner voiced support for Musk after the recent report. The crypto community’s response highlighted Musk’s enduring influence in the sector.

Supporters believe the America Party could accelerate Bitcoin adoption across the United States. They argue Musk’s wealth and platform provide unmatched opportunities for change. Draper added that Musk aims to shrink government regulations and reduce national debt.

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