Elon Musk touts Bitcoin as energy-based and inflation-proof, unlike ‘fake fiat’
Bitcoin’s energy-based economic model is set to benefit from the fiat “debasement” needed to fund the global arms race for developing the most advanced AI models.
Billionaire entrepreneur and Tesla CEO Elon Musk touted Bitcoin’s ability to protect investors from fiat money printing, which may increase due to what analysts call a forthcoming government-funded race to develop artificial intelligence.
Musk has praised Bitcoin’s (BTC) energy-based proof-of-work model for its inflation-proof mechanism, which is immune to governmental fiat currency printing as it is “impossible to fake energy.”
“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,” Musk wrote in a Tuesday X post.