Tesla and SpaceX CEO Elon Musk reaffirmed his support for Bitcoin's (BTC) energy-based design as his personal wealth approached $750 billion.
Musk described energy as "the true currency" during a December podcast appearance.
The billionaire responded to comments about artificial intelligence representing an "infinite money glitch" by emphasizing energy's fundamental role in economic systems.
His net worth reached approximately $749 billion according to Forbes, following a Delaware Supreme Court ruling that restored his Tesla compensation package.
What Happened
Musk addressed cryptocurrency's relationship to energy during an interview with Indian entrepreneur Nikhil Kamath earlier this month.
"Energy is the true currency," Musk said.
"This is why I said Bitcoin is based on energy."
He argued governments can print money but cannot legislate energy production.
The Tesla founder emphasized Bitcoin's proof-of-work system ties cryptocurrency creation to real-world energy expenditure.
"You can't just pass a law and suddenly have a lot of energy," Musk said.
Guillaume Verdon, founder of AI startup Extropic and known on X as "beff jezos," posted that AI represents "an infinite money glitch" when viewed as expected free energy.
Musk responded by reinforcing his position on energy as the fundamental economic unit.
The exchange sparked renewed discussion among Bitcoin supporters about the cryptocurrency's energy consumption.
Bitcoin mining requires substantial electricity to power computers that secure the network and validate transactions.
Critics have long cited energy usage as a weakness.
Musk framed it as a strength that prevents manipulation.
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Why It Matters
Musk's comments mark a shift from his 2021 position when Tesla suspended Bitcoin payments over environmental concerns.
The cryptocurrency mining industry has since increased renewable energy usage.
A Cambridge Centre for Alternative Finance report confirmed Bitcoin mining crossed the 50% sustainable energy threshold by 2025.
Musk's renewed public support carries weight given his influence in technology and finance sectors.
His companies Tesla and SpaceX have combined market valuations exceeding $1 trillion.
The Delaware court ruling that restored Musk's $139 billion Tesla pay package pushed his net worth to record levels.
Forbes calculates he now controls wealth equivalent to Switzerland's gross domestic product.
Musk previously purchased $1.5 billion in Bitcoin for Tesla in 2021 before reversing the decision weeks later.
His latest statements suggest a philosophical alignment with Bitcoin's energy-intensive security model.
The billionaire has consistently advocated for Dogecoin (DOGE) while maintaining cautious support for Bitcoin.
His December comments represent the strongest endorsement of Bitcoin's fundamental design since the 2021 reversal.
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