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Tesla and SpaceX chief Elon Musk has stoked fresh debate about Bitcoin after a recent social post in which he said the cryptocurrency is “based on energy” and that energy cannot be faked. The comment, posted on X, quickly drew attention from investors and politicians alike.
Musk’s remark landed as markets moved. Bitcoin was down, and trading roughly around $86,500 at the time of the post, and crypto coverage noted a flurry of reactions across social feeds and trading desks. Some market watchers saw the statement as a boost for BTC’s narrative as an inflation hedge.
Musk Frames Bitcoin As ‘Energy Money’
According to Musk, the act of mining ties Bitcoin
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