<ul data-eligibleForWebStory="false"><li>Elon Musk announced his yet-to-be-registered political party, 'The American Party,' backing Bitcoin and criticizing wasteful government spending.</li><li>Musk plans to field candidates for the US Senate and House, initially focusing on state-level support before eyeing a White House run.</li><li>Musk's companies, Tesla and SpaceX, hold a significant amount of Bitcoin, tying his political project to the cryptocurrency.</li><li>However, hurdles like regulatory challenges, ballot access requirements, and handling crypto volatility pose significant obstacles for Musk's political ambitions.</li></ul>

Bitcoin First: Musk’s Political Party, Crypto Push Shakes Up Washington

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