Billionaire entrepreneur and Tesla CEO Elon Musk, in a statement that has reignited global debate on the future of money, has openly endorsed Bitcoin over traditional fiat currency.
In a recent post on X Musk praised Bitcoin’s energy-based proof-of-work model, describing it as a system inherently resistant to inflation and government manipulation.
According to him, Bitcoin’s foundation in real energy expenditure makes it fundamentally different from fiat currencies, which can be printed at will by governments.
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His comment reads,
“That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy”.
Musk’s comment came in response to a post by market analyst ZeroHedge, who argued that the global race to develop artificial intelligence (AI) will soon be fueled by massive government spending. ZeroHedge suggested that this “AI arms race” could lead to further currency debasement, pushing investors toward assets like Bitcoin, gold, and silver.
He wrote,
“Has anybody done the math on how many hundreds of new nuclear power plants the US will need by 2028 for all these AI daily circle jerk deals to be powered?
“The money is not the problem: AI is the new global arms race, and capex will eventually be funded by governments (US and China). If you want to know why gold/silver/bitcoin is soaring, it’s the “debasement” to fund the AI arms race. But you can’t print energy.”
Musk’s latest comments highlight his continued belief in decentralized finance and the growing importance of digital assets in an era of inflation and economic uncertainty. The Tesla CEO has publicly praised Bitcoin’s potential as a decentralized currency and store of value. In 2021, Tesla announced it bought $1.5 billion worth of Bitcoin and would accept it for vehicle purchases, which spiked BTC’s price by over 20% in a day.
Later that year, Tesla suspended Bitcoin payments due to environmental concerns over mining’s energy use. This caused a sharp price drop, drawing backlash for market manipulation.
Musk criticized Bitcoin’s proof-of-work energy intensity, pushing alternatives like Dogecoin (which he favors more openly for its speed and lower fees) and even floated Tesla’s own crypto ideas. In 2024 interviews and X posts, he reiterated Bitcoin’s value but emphasized scalability issues and environmental fixes.
As of 2025, Musk remains a Bitcoin proponent in principle tweeting support for crypto innovation and xAI’s potential blockchain integrations.
Musk’s recent endorsement of Bitcoin means the crypto asset isn’t just speculative, it’s a pragmatic hedge against systemic flaws in fiat, especially as governments print to chase tech dominance.
Notably, the Tesla isn’t alone on this statement, numerous economists, investors, and technologists have long argued that Bitcoin fixes fiat’s core issues. Michael Saylor Co-founder & Executive Chairman, MicroStrategy views Bitcoin as “digital gold” and a store of value, his firm holds over 250,000 BTC ($15B+ in 2025).
Also, Anthony Pompliano (“Pomp”), Founder Pomp Investments advocates BTC as an uncorrelated asset for portfolios, focusing on its role in hedging fiat debasement. He describes it as the hope for the working class.
These figures represent a mix of tech pioneers, investors, and educators who’ve substantiated Bitcoin’s case with actions and massive holdings.
In summary, Musk’s statement underscores a shifting paradigm, as fiat strains under infinite-printing pressures, Bitcoin’s energy-rooted scarcity offers a compelling counter-narrative. Whether it becomes “the future of money” depends on adoption, regulation, and tech integration.