Elon Musk Slams Report of Dropping Plans to Launch Pro-Bitcoin America Party

Elon Musk has strongly refuted reports claiming he is abandoning plans to launch his own political party. The tech billionaire entrepreneur responded to recent news that suggested he was stepping back from his idea to form a third-party movement.

According to Musk, there is no truth to the rumors, and he remains committed to his vision of creating the “America Party” focused on Bitcoin and economic reform.

Elon Musk Plans To Proceed With America Party Move

Elon Musk has quickly dismissed a recent Wall Street Journal report that he is ‘pumping the brakes on the move to launch a new party. In an X post, Musk stated that no one should ever consider anything WSJ says as true.

The report suggested that Musk was backing off the America Party in favor of supporting Vice President JD Vance, who is seen as a leading figure for the 2028 Republican ticket.

However, Musk indicated that he hasn’t made such a decision and that his position on creating a third-party movement remains intact. Meanwhile, sources close to Elon Musk also clarified that he had not made any final decisions about his political future.

While it is true that Musk had engaged with JD Vance in recent weeks, discussions about Vance running for president in 2028 were reportedly not around Musk’s potential support. Instead, Elon Musk has focused on his business ventures, like Tesla, which is booming with BTC profits, which led him to cancel a call with a group that specializes in third-party campaigns in late July.

Vision for the Pro-Bitcoin America Party

According to a CoinGape report, Elon Musk has been vocal about his dissatisfaction with the two main political parties in the United States. In response to what he calls “waste and graft,” Elon Musk had proposed forming the America Party, which would center on reducing government spending and adopting Bitcoin as a financial standard.

He argued that the current political system no longer represents the needs of the people, and he sought to create a platform that would challenge the status quo.

Although the recent reports suggest that Musk has changed direction, his commitment to the idea of a Bitcoin-backed political platform remains intact. Musk proposes to use Bitcoin as a solution to what he sees as the shortcomings of fiat currencies, which has generated significant attention.

However, despite recent reports, Musk’s relationship with JD Vance has not caused a major shift in his political ambitions. Vance, the current Vice President, has expressed hope that Musk will rejoin the Republican fold, particularly in time for the 2026 midterms.