Elon Musk's poll on new America Party garners 65% votes originally appeared on TheStreet .
Elon Musk , the world's wealthiest man who once championed cryptocurrencies such as Bitcoin and Dogecoin , isn't satisfied with the two-party political system in the country.
Musk, who until recently supported President Donald Trump, asked on X on July 4, the 249th Independence Day, if they should create the "America Party."
Over 65% of the respondents on the social media platform voted in favor of creating a new party.
Musk explained :
"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."
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Earlier, Trump appointed Musk to lead the Department of Government Efficiency (D.O.G.E.), that the billionaire led from January to May.
Notably, the acronym of the department is the same as the ticker of Dogecoin, the meme coin that Musk once talked about often.
Musk announces America Party
On July 5, Musk announced the formation of the America Party on X.
Popular Dogecoin member, known as DogeDesigner on X, wondered which path the "Western Man" will take, the two-party system or the new America Party.
While Trump has pursued an aggressive pro-crypto policy, it's his flagship "big, beautiful bill" that pushed Musk away from him. The tech mogul's contention is that the bill would raise the debt ceiling by $5 trillion.
The bill has drawn criticism not only from Musk but from other quarters too, such as Brian Armstrong , the billionaire CEO of the Coinbase (Nasdaq: COIN) crypto exchange.
If Congress doesn't lower the rising national debt, Bitcoin might become the world's reserve currency, Armstrong warned despite being a crypto entrepreneur.
The potential devaluation of the U.S. dollar is a concern that's on the mind of many of the bill's critics.
The total crypto market cap stood at $3.33 billion at the time of writing, up 0.19% a day.
Elon Musk's poll on new America Party garners 65% votes first appeared on TheStreet on Jul 4, 2025
This story was originally reported by TheStreet on Jul 4, 2025, where it first appeared.
