• Home 1
  • Privacy Policy
LSD News
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
LSD News
No Result
View All Result
Home Crypto News

Bitcoin First: Musk’s Political Party Pledge Shakes Up Washington

by
July 7, 2025
in Crypto News
0
Bitcoin First: Musk’s Political Party Pledge Shakes Up Washington
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Elon Musk has stirred up Washington by announcing that his yet‑to‑be‑registered “The American Party” will back Bitcoin. His move comes as he takes aim at what he calls wasteful government spending and vows to shake up the status quo.

Musk’s short statement—that “fiat is hopeless”—has already sent ripples through both political and crypto circles.

Musk Launches Political Bid

According to Musk’s recent tweet, his new centrist party will start by fielding candidates for the US Senate and House. He’s on record saying he won’t jump straight to a White House run.

Instead, he plans to build out support at the state level first. This measured approach reflects the massive effort needed to get on ballots: most states demand tens of thousands of signatures for each race. Musk will need a ground game rivaling established parties.

Fiat is hopeless, so yes

— Elon Musk (@elonmusk) July 7, 2025

Bitcoin Figures Front And Center

Based on reports, Musk isn’t just talking the talk. Two of his companies, Tesla and SpaceX, hold a combined 19,794 BTC—11,509 at Tesla and 8,285 at SpaceX.

That stash is worth about $2.1 billion at current prices. He’s also said he personally holds Bitcoin, Ethereum and Dogecoin. By tying his political project to Bitcoin, Musk is likely appealing to the same audience that powered US President Donald Trump’s 2024 campaign on crypto buzz.

a 01234e

Elon Musk is forming his own political party. Image: Bloomberg/Getty Images

The price of Bitcoin has barely budged on the news. The coin sits at $108,772, showing no clear spike or dip. Traders seem to view this more as another Musk headline than a sign of concrete policy change.

Volatility has hit 30 % swings in recent months, so any real plan to take campaign funds or taxes in Bitcoin would face tough questions about price swings.

a c15690

Bitcoin is expected to play a major role in Musk's political push. Image: FXEmpire

Regulatory And Logistical Hurdles

Based on public filings, no “Department of Government Efficiency” exists—Musk’s DOGE jibe is just a nod to Dogecoin fans. Actual agencies like the IRS and SEC would need to weigh in if a political party tried to use Bitcoin for donations or payments.

US campaign finance laws cap donations and demand strict reporting. Converting crypto to cash quickly, especially during sell‑offs, could trigger accounting nightmares.

OYFtldFb
BTCUSD now trading at $108,847. Chart: TradingView

Getting on ballots is another mountain. Each state has unique rules on deadlines, forms and signature thresholds. Some require petitions submitted more than a year before an election.

Musk will have to hire or mobilize coordinate teams to track hundreds of deadlines. Failure in just one key state could keep him off that state’s ballot entirely.

The real test will come if Musk files party paperwork and publishes a plan for handling crypto volatility and compliance.

Featured image from Pexels, chart from TradingView

safe

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Tags: BitcoinMusksPartyPledgePoliticalShakesWashington
Previous Post

Tenders called for sale of 14 luxury vehicles by Energy Ministry

Next Post

CoreWeave to acquire Core Scientific in $9 billion all-stock deal

Next Post
CoreWeave to acquire Core Scientific in  billion all-stock deal

CoreWeave to acquire Core Scientific in $9 billion all-stock deal

Stay Connected test

  • 139 Followers
  • 205k Subscribers
  • 23.9k Followers
  • 99 Subscribers
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Hawaii officials work to address mental health challenges facing wildfire survivors

Hawaii officials work to address mental health challenges facing wildfire survivors

August 17, 2023
Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

August 10, 2023
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

July 16, 2023
Working-age Americans are struggling to pay for health care, even those with insurance, report finds

Working-age Americans are struggling to pay for health care, even those with insurance, report finds

October 28, 2023
Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

5
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

5
Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

3
Georgia realtor receives invitation to play the Masters by mistake | CNN

Georgia realtor receives invitation to play the Masters by mistake | CNN

1
Jane Street to contest SEBI’s manipulation charges: Reports

Jane Street to contest SEBI’s manipulation charges: Reports

July 7, 2025
Boston aesthetician helps clients with IVF injections, hoping to ease stress of infertility treatments

Boston aesthetician helps clients with IVF injections, hoping to ease stress of infertility treatments

July 7, 2025
CoreWeave to acquire Core Scientific in  billion all-stock deal

CoreWeave to acquire Core Scientific in $9 billion all-stock deal

July 7, 2025
Bitcoin First: Musk’s Political Party Pledge Shakes Up Washington

Bitcoin First: Musk’s Political Party Pledge Shakes Up Washington

July 7, 2025

Recent News

Jane Street to contest SEBI’s manipulation charges: Reports

Jane Street to contest SEBI’s manipulation charges: Reports

July 7, 2025
Boston aesthetician helps clients with IVF injections, hoping to ease stress of infertility treatments

Boston aesthetician helps clients with IVF injections, hoping to ease stress of infertility treatments

July 7, 2025
CoreWeave to acquire Core Scientific in  billion all-stock deal

CoreWeave to acquire Core Scientific in $9 billion all-stock deal

July 7, 2025
Bitcoin First: Musk’s Political Party Pledge Shakes Up Washington

Bitcoin First: Musk’s Political Party Pledge Shakes Up Washington

July 7, 2025

We bring the latest news from all over the world and get all time updated you

Follow Us

Browse by Category

  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
  • Uncategorized

Recent News

Jane Street to contest SEBI’s manipulation charges: Reports

Jane Street to contest SEBI’s manipulation charges: Reports

July 7, 2025
Boston aesthetician helps clients with IVF injections, hoping to ease stress of infertility treatments

Boston aesthetician helps clients with IVF injections, hoping to ease stress of infertility treatments

July 7, 2025
No Result
View All Result
  • Home 1
  • Privacy Policy

© 2024 LSD News title="Jegtheme">Jegtheme.