Elon Musk once again commented on Bitcoin, this time praising its link to energy. In a post on X, he said that Bitcoin’s foundation in energy makes it real and hard to fake. He contrasted this with fiat currencies, which he said governments can print at will but can’t just “fake energy.”
This marks a notable shift for Musk. In 2021, he criticized Bitcoin mining’s energy use and halted Tesla’s BTC payments, citing environmental concerns. Now, he seems to view that energy cost as part of Bitcoin’s verifiable value.
Bitcoin is powered by a proof-of-work system. Miners use electricity to solve complex calculations and validate transactions. That energy consumption is what secures the network and generates new coins. Musk’s new framing frames this consumption as a strength, not a weakness.
He made his remarks in response to a post suggesting governments are driving asset prices up by printing money to fund an AI arms race. Musk agreed, writing: “That is why Bitcoin is based on energy … it is impossible to fake energy.”
His renewed support could influence market narratives and investor sentiment. As debate rages over Bitcoin’s environmental impact, Musk’s comment injects weight into arguments for energy as a transparent, measurable anchor for value.
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