'True Currency': Elon Musk Makes Major Bitcoin Statement
Analysis
Price Impact
HighElon musk's statements, especially positive ones about bitcoin, historically have a significant impact on market sentiment due to his vast influence and public profile. his philosophical endorsement as a 'physics-based currency' adds a layer of fundamental validation.
Trustworthiness
HighThe statements are direct quotes from elon musk, a highly influential figure. while his past market actions have sometimes been unpredictable, his public statements about fundamental concepts are generally perceived as genuine reflections of his perspective.
Price Direction
BullishFraming bitcoin as a 'true currency' based on energy provides a strong, fundamental argument for its value, potentially reinforcing investor confidence and attracting new interest. it connects bitcoin to a universal, unlegislatable resource, elevating its perceived intrinsic worth.
Time Effect
LongThis is a philosophical and fundamental endorsement of bitcoin, linking its value to energy and framing it as a foundational currency for the future. such deep conceptual validation tends to contribute to a long-term bullish narrative rather than just a fleeting price pump.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News During a recent podcast appearance , Elon Musk, the richest person in the world, has just broken his streak of Bitcoin silence, calling the flagship coin a "fundamental "physics-based currency." Advertisement "Energy is the true currency. This is why I said Bitcoin is based on energy. You can't legislate energy. You can't just, you know... pass a law and suddenly have a lot of energy," Musk said. Musk has added that it is very difficult to generate energy, or, especially, to harness energy in a useful way. HOT Stories 'True Currency': Elon Musk Makes Major Bitcoin Statement Morning Crypto Report: Vitalik Buterin Issues Zcash (ZEC) Warning, XRP Teases 69% Price Rise, $100,000 BTC Is Real in 2025: Bollinger Bands Banned GPUs Help North Korea Expand Crypto Heists How Low Will Bitcoin Price Drop in 2025? He argues that the Kardashev scale, which categorizes civilizations based on the amount of energy they are capable of using, should be used for framing civilizational progress in terms of energy mastery. Advertisement Money will disappear as a concept Musk has also predicted that money will disappear as a concept in the future. "But, in a future, where anyone can have anything, I think that you no longer need money as a database for labor allocation," Musk said. Musk has suggested that artificial intelligence (AI) and robotics could be big enough in order to satisfy all human needs, thus eliminating the need for money. You Might Also Like Thu, 07/17/2025 - 05:49 Cracking Satoshi’s Wallets? Elon Musk Weighs In By Alex Dovbnya The Tesla CEO has mentioned Iain M. Banks’ Culture series as the blueprint for his vision. This is a set of science-fiction novels describing one of the most fully realized post-scarcity civilizations in literature. The Culture is a galaxy-spanning civilization where there is no money, no scarcity, work is optional, people live extremely long, and super-intelligent AIs ("Minds") run almost everything. "In this sort of far future of the Culture books, ...they don't have money, either. And everyone can pretty much have whatever they want," Musk said. #Bitcoin News #Elon Musk