Musk Calls Energy the True Currency, Sparks Bitcoin Buzz
The Tesla billionaire, projected to become the world’s first trillionaire with a net worth estimated at over $750 billion, has once more sparked conversation about wealth and the future of the U.S. dollar. Earlier this month, Musk issued a stark warning about fiat currencies, reiterating his long-held view that “the dollar is fundamentally flawed.” Although he is not formally involved in the Trump administration’s initiatives to advance bitcoin and cryptocurrency adoption, Musk has consistently conveyed his endorsement of digital assets through indirect but impactful statements.
After previously describing fiat money as “hopeless,” Musk has once again captured the attention of the crypto community by claiming that energy—not currency—truly represents the real measure of value. In a post on X, Musk remarked, “Energy is the true currency,” in response to a comment from the pseudonymous account beffjezos. This account argued that money acts as a substitute for expected free energy and suggested that artificial intelligence could represent a “infinite money glitch.” Beff noted that the growing expectation of a bull market in 2026 signifies what he termed a “bubble narrative violation.” Proponents of Bitcoin swiftly seized upon Musk’s remarks, with one individual asserting that “Bitcoin is conserved energy.”
Bitcoin investor and commentator Robert Breedlove added to the conversation by revisiting a 2021 essay in which he argued that bitcoin promotes increased energy production and efficiency. Breedlove asserts, “improvements in energy efficiency ultimately translate into higher productivity, greater wealth creation, and rising living standards.” Musk himself echoed similar ideas in an October post, stating that “bitcoin is fundamentally rooted in energy,” arguing that “while governments can fabricate fiat currencies, energy itself cannot be faked.” He also linked the recent surges in gold, silver, and bitcoin prices to what he described as a global arms race in artificial intelligence.
Bitcoin operates through a decentralized network of miners who utilize energy-intensive computing power to validate transactions and secure the network, receiving newly minted bitcoin as compensation. The system’s electricity consumption rivals that of some smaller nations, and it typically increases as prices rise and more miners enter the fray. Although Musk’s enthusiasm for bitcoin has waned since the cryptocurrency’s rise during the Covid era, he continues to express overall support for the asset and remains a vocal advocate for dogecoin, which he often identifies as his favored cryptocurrency. After leaving the White House, Musk announced that his America Party would focus on bitcoin rather than the U.S. dollar, emphasizing his belief that the dollar and other government-issued, debt-based currencies are fundamentally “hopeless.”
