Elon Musk, the Tesla billionaire poised to become the world’s first trillionaire with a net worth exceeding $750 billion, made a surprising money prediction earlier this month, coupled with a serious warning regarding the future of the U.S. dollar. Musk, while not directly involved in the Trump administration’s efforts to promote bitcoin and crypto adoption, has consistently shown his support for the technology through subtle advocacy for bitcoin. Following his earlier declaration of the dollar and fiat currency as “hopeless,” Musk has once again proclaimed energy to be “the true currency.” This statement has ignited speculation among bitcoin enthusiasts that he may be subtly endorsing the cryptocurrency.
“Energy is the true currency,” Musk posted to X, in response to the pseudonymous beffjezos X account, which stated: “If you understand money as a proxy for expected free energy, AI is literally an infinite money glitch.” Beff remarked that the increasing anticipation of a 2026 bull market constitutes a “bubble narrative violation.” A bitcoin enthusiast account tweeted in reaction to Musk “Bitcoin is conserved energy.”
Robert Breedlove responded with a link to a post he authored in 2021, where he predicted, “bitcoin will lead to more energy production,” and further stated that “efficiency improves productivity, wealth creation, and living standards.” In October, Musk shared on X that “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,” while also acknowledging that the “global arms race” toward artificial intelligence is the driving force behind the recent price surges of gold, silver, and bitcoin.
Bitcoin is backed by a network of miners utilizing high-powered computers to validate transactions, earning newly issued bitcoin in the process. This cryptocurrency’s annual electricity consumption rivals that of some small countries, with energy demands increasing in tandem with its price as more miners enter the network. Musk’s enthusiasm for bitcoin and cryptocurrency has diminished since its peak during the Covid era, yet he remains a supporter of bitcoin and continues to champion his “favorite” cryptocurrency, dogecoin. After leaving the White House, Musk announced that his America Party would prioritize bitcoin over the U.S. dollar, labeling the dollar and other government-issued, debt-based currencies as “hopeless.”