The world of cryptocurrencies cannot take its eyes off the new defeat between Elon Musk and Donald Trump.
The rivalry between the two billionaires has resurfaced only a few weeks after it seemed to have been archived. The spark? Musk has attacked Trump's so-called 'Big Beautiful Bill', a government spending plan, on all fronts.
Musk Wants to Launch a New Party
According to Musk, the bill is a financial nightmare. He argues that overspending is unsustainable for a country already overwhelmed by debt. Moreover, as the leader of an electric vehicle company, he is furious about the green energy taxes in the package, which he says would hinder the development of an industry that the US should be supporting, not curbing.
"If this insane bill is passed, the Party of America will be born the next day. Our country needs an alternative to the one-party Democratic-Republican party so that the people truly have a VOICE," Musk declared on X (formerly Twitter).
If this insane spending bill passes, the America Party will be formed the next day.
- Elon Musk (@elonmusk) June 30, 2025
Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.
The matter quickly became personal. According to some rumours, Trump even suggested deporting Musk, an unprecedented threat to the wealth of the richest person on the planet. Musk, however, did not back down. Indeed, he upped the ante, promising to found a new political party called The America Party (TAP) if the bill is passed.
The prediction markets take him seriously. After his latest posts, the odds of Musk actually funding TAP have jumped to 41% on the Kalshi platform. Musk even retweeted those percentages, a digital signal that he is not bluffing.
Memecoin speculators also follow Musk wherever he goes. During the latest clash between Musk and Trump, a token called The American Party appeared on PumpSwap, which temporarily reached a market capitalisation of $5 million. When the two reconciled, the token collapsed. Now, thanks to Musk's new threat, it is flying again.
And the consequences do not end there. To ride the hype, the trendiest memecoins on DexScreener all sport red, white and blue graphics. After Trump's comments on Musk's deportation, even Dogecoin - historically linked to Musk - shook, losing almost 4%.
All this is a clear reminder: in 2025, cryptocurrency speculation and American politics are inextricably linked. All it takes is a presidential tweet or a Musk provocation to set off some semi-unknown tokens, sometimes for hours, sometimes for days.
Could the development of TAP trigger a new memecoin frenzy? Maybe yes, maybe no. But one thing is certain: as long as the world's most talked-about billionaire and a pugnacious former president continue to poke at each other in public, crypto traders will see politics as just another opportunity to ride the wave.
Keep an eye on the bill. Follow the polls. And if you love memecoins, buckle up: the Trump-Musk rollercoaster shows no sign of stopping.
