Here's what it would take for Elon Musk to launch a third-party effort to represent what he called "the 80% in the middle."

"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk said in the announcement.

The America Party has yet to hold a formative congress or issue a specific platform. Little is known about the party’s stance, beyond Musk’s vague comments of a preference for centrism, deregulation, reduction of government spending and support for Bitcoin ( BTC ).