Elon Musk, the well-known tech billionaire, has sparked new interest in Bitcoin with a recent statement. On October 14, 2025, he publicly supported Bitcoin again. Musk said, “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.” This was his first big comment about Bitcoin in almost three years. The last time he talked about it was after the FTX crypto exchange collapsed in November 2022.
Musk’s comments came after a post from analyst Zerohedge. The post linked the global race for artificial intelligence (AI) and government spending to the rise of hard assets like Bitcoin, gold, and silver. Musk explained that Bitcoin relies on energy, calling it a “proof-of-energy” system. He compared it to government-issued fiat money, which he said can be manipulated and inflated away. His statement quickly spread online, sparking new debates about whether Bitcoin can act as a safe store of value against rising inflation and falling fiat currencies.
His comments appeared at a time when many people are worried about governments printing more money to pay for AI and other projects. Musk warned about the U.S. government’s “magic money computers” and the country’s huge $37 trillion debt. These factors increase fears that the dollar could lose its value.
Concerns grow over government money printing and $37 trillion debt risking the dollar’s future value.
The broader discussion focuses on how assets like Bitcoin and gold might protect investors from inflation and currency devaluation. Musk also described Bitcoin as an “anti-state” currency. He said its proof-of-work model makes it legitimate and difficult to corrupt. He pointed out that Bitcoin’s value is based on real energy use, which cannot be artificially expanded. Furthermore, recent research indicates that Bitcoin mining consumes a significant amount of renewable energy, which could mitigate environmental concerns associated with its energy footprint. This idea supports the view that only a currency backed by renewable energy sources can resist devaluation, unlike paper money. Musk’s stance aligns with those who see Bitcoin as “digital energy” and a hedge against inflation.
Despite his words, Bitcoin’s price didn’t jump much after his statement. It traded around $111,836, down nearly 3% in 24 hours. Some traders briefly reacted positively, pushing the price up slightly. But overall, the market stayed cautious.
Tesla, Musk’s car company, holds a large amount of Bitcoin—about $1.4 billion worth in October 2025. The value has since dropped to around $1.28 billion due to market changes.
