Elon Musk Just Said Something About Bitcoin

Elon Musk turned heads with his latest post on X (Twitter), reaffirming his support for Bitcoin over government-issued fiat currencies.

His comment comes amid mixed market sentiment, with reports indicating the longest investor hesitation phase ever.

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Elon Musk Positions Bitcoin as the Future of Money

Responding to a post by market commentator Zerohedge, Musk said Bitcoin is based on energy, a pedigree that positions it at an advantage over fiat currency.

“…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,” he stated.

The comment, which quickly went viral, came after Zerohedge drew a connection between the global AI arms race and the surge in hard assets like gold, silver, and Bitcoin.

“AI is the new global arms race… and capex will eventually be funded by governments… But you can’t print energy,” Zerohedge argued in their post.

Musk’s endorsement effectively framed Bitcoin as the ultimate “proof-of-energy” system. He presented the pioneer crypto as a scarce digital asset grounded in real-world computation, unlike fiat money, which can be printed at will.

It ties into a growing macro conversation around energy, scarcity, and the digital economy. As AI infrastructure and data centers devour unprecedented levels of power, critics and proponents re-evaluate energy’s role in defining real value.

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For Musk, Bitcoin is a model of what cannot be artificially expanded, a system where energy expenditure equals trust.

It is worth noting that Musk has previously been cautious about making strong public statements on Bitcoin. Nevertheless, his latest comment suggests renewed conviction in its fundamental value, especially as global governments expand spending to fund technological competition.

Despite Musk’s remark, Bitcoin’s market reaction was subdued. The world’s largest cryptocurrency traded at $111,836, down almost 3% in the past 24 hours.

This muted reaction comes amid continued investor hesitation, after the recent market crash dented the confidence of even the savvy analysts. Still, Musk’s influence remains powerful, especially in the meme coin sector, where his posts can send markets surging or crashing within minutes.

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Musk’s Bitcoin History and Tesla’s Holdings

Meanwhile, this is not the first time Musk has publicly tied Bitcoin’s design to broader technological or philosophical principles.

In June, he compared the encryption behind X’s upcoming XChat platform to Bitcoin’s architecture, saying it featured “Bitcoin-style encryption” and a new system built in Rust.

All new XChat is rolling out with encryption, vanishing messages and the ability to send any kind of file. Also, audio/video calling.

This is built on Rust with (Bitcoin style) encryption, whole new architecture.

— Elon Musk (@elonmusk) June 1, 2025

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In March 2022, Musk stated that he still owns and won’t sell his Bitcoin, Ethereum, or Dogecoin holdings. This position stood on the belief that tangible and scarce assets outperform fiat during inflationary periods.

His latest statement echoes long-standing arguments from Bitcoin advocates like Michael Saylor, who has often described BTC as digital energy. According to Saylor, holding scarce assets over currency derivatives during inflation is better.

Better to own scarce, desirable assets than currency derivatives in times of inflation. We agree on the general principle. The challenge lies in sorting out which things (including physical property, digital property, & corporate equity) are most scarce & desirable over time.

— Michael Saylor (@saylor) March 14, 2022

Elsewhere, Tesla’s Bitcoin treasury remains one of the largest among public companies. According to Arkham Intelligence, Tesla’s BTC holdings reached a record high in October 2025, totaling about $1.4 billion, the highest level since May 2022.

Following the latest market dip, the current value is estimated at around $1.28 billion.