Bitcoin As Anti-State Currency ? Musk Reignites Discussion

As the global race for artificial intelligence accelerates, Elon Musk returns to the crypto spotlight. In a message published on X, the Tesla CEO presents bitcoin as a bulwark against the inflationary drift of fiat currencies, stating that it is “based on energy” and therefore immune to state manipulation. This stance puts the flagship asset back at the heart of international monetary debates.

Bitcoin, an energy bulwark against fiat currency

In a concise but unequivocal post published this Tuesday on X (formerly Twitter), Elon Musk rekindled the debate around bitcoin and inflationary monetary policies, in the context of a violent correction in the crypto market.

Responding to a message from analyst Zerohedge, the Tesla CEO stated : “that is why 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“.

The message mentioned fears of a new episode of massive money creation aimed at funding the next great global race: that of artificial intelligence. For Zerohedge, this context is already behind the recent rise of bitcoin, gold, and silver, seen as refuges against upcoming devaluation.

By emphasizing that bitcoin production is based on measurable and irreversible energy expenditure, Musk reinforces an old but still debated thesis : bitcoin as a hard asset, incorruptible and not manipulable by states.

Its proof-of-work model gives it, according to its defenders, unique legitimacy among assets. In this regard, Musk’s statement highlights several key points :

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  Monetary inflation as a systemic threat, fueled by expansionary fiscal policies and the AI race ;
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  The role of energy as a unit of economic truth, in a system where money creation relies on physical and verifiable expenditure ;
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  The historical critique of fiat money, perceived by Musk as inherently subject to government manipulation.

In this context, bitcoin is presented not as a mere speculative asset, but as a defense mechanism against purchasing power depreciation. A stance that resonates with part of the crypto community, seeking stability in an increasingly uncertain geopolitical and economic environment.

A symbolic but ambivalent statement

This media appearance by Musk is all the more remarkable as it is his first significant public position on bitcoin in nearly three years. The last was in November 2022, at the heart of the FTX collapse.

At that time, the SpaceX founder soberly declared : “BTC will get through it, but it will be a long winter“, while the bitcoin price had just dropped to $16,000. The current timing of this new message, while the debate on public debt sustainability and AI rages, suggests a renewed strategic, perhaps political, interest in bitcoin’s potential role in the new world economic order.

However, it should be recalled that Musk had past reservations about the Bitcoin network itself. In May 2021, Tesla suspended BTC payments, citing environmental concerns related to fossil fuel use in mining.

This decision triggered an immediate drop of about 6 % in the price. Although Elon Musk later committed to reconsider the position if the network reached at least 50 % renewable energy, neither he nor Tesla have confirmed a resumption of payments to date. Yet, renewable energy usage in mining reportedly exceeded 55%, without an official reaction from the company.

The current statement, although laudatory, therefore does not erase certain ambiguities. Is it a simple ideological signal, or a prelude to a new industrial strategy by Musk around Bitcoin? If the billionaire chose to fully reintegrate BTC into the Tesla ecosystem, or to back certain AI services with it, the impact could potentially be major on the market. Meanwhile, this statement underlines how much positioning on cryptos is becoming a strategic indicator, at the intersection of upcoming economic, monetary, and technological issues.