Elon Evaluates Bitcoin's Energy-Based Structure

Elon Musk, who leads AI development company xAI and electric vehicle giant Tesla, posted on X on the 14th that cryptocurrency Bitcoin (BTC) is resistant to the devaluation caused by the overprinting seen with fiat currencies. He pointed out that fiat currencies can be counterfeited, and governments have indeed printed counterfeit money for fiscal policies in the past. In contrast, he argued that Bitcoin structurally relies on energy, which cannot be counterfeited. Musk has historically been positive about cryptocurrencies, frequently posting favorable comments about Dogecoin on X, among others.