Elon Musk has shared his view that Bitcoin
He pointed out that Bitcoin’s system relies on energy, which makes it more difficult to manipulate than traditional currencies.
In an October 14 post on X, Musk explained that energy is something that cannot be faked. Unlike paper money, which governments can create in large amounts, Bitcoin is produced through a process that requires real energy.
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He said, “You can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy”.
His comment was a direct reply to a post by an X user, @zerohedge, who suggested that recent increases in the prices of Bitcoin and precious metals like gold and silver are linked to fears of currency devaluation.
According to @zerohedge, countries such as the United States and China are preparing to spend on artificial intelligence (AI), and much of this spending will be government-funded.
@zerohedge described AI as the next major global competition and warned that the costs would likely be covered by printing more money. They noted that this weakens national currencies and drives investors toward assets that are harder to devalue, like Bitcoin.
Recently, Elon Musk shared that xAI is preparing to release an early beta version of Grokipedia. What is it? Read the full story.
