Billionaire Elon Musk talked about Bitcoin for the primary time after a few years, praising its true vitality foundation. The endorsement comes at a vital time when the crypto market faces renewed main crash considerations. Traders reply instantly to Musk’s Bitcoin endorsement, inflicting a rebound in BTC worth.
Elon Musk Mentions Bitcoin After Many Years
On October 14, Elon Musk mentioned, “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 assertion is available in response to zerohedge’s X post on rising gold, silver, and Bitcoin costs amid the “debasement trade” to fund the AI arms race. He claimed the world is in an AI world arms race, with capital expenditure that can ultimately be funded by governments such because the U.S. and China.
True.
That is why Bitcoin is predicated on vitality: you may subject pretend fiat forex, and each authorities in historical past has performed so, however it’s inconceivable to pretend vitality.
— Elon Musk (@elonmusk) October 14, 2025
Musk has continued to lift considerations concerning the US authorities printing cash out of skinny air, saying the federal government has “magic money computers.” He has issued a number of dire warnings over the spiralling $37 trillion US nationwide debt.
Nevertheless, the pro-Bitcoin rhetoric marks a notable return from criticizing BTC’s vitality consumption. Musk has largely centered on Dogecoin, even hinting at integrating DOGE into X Money. He is even planning to launch a pro-Bitcoin US political party.
BTC Price Saw Cautious Rebound
Elon Musk’s Bitcoin endorsement triggered a slight rebound in BTC worth, at the moment buying and selling at $112,011. The 24-hour high and low are $111,569 and $116,020, respectively.
Furthermore, the buying and selling quantity has decreased by 18% within the final 24 hours. This signifies a decline in curiosity amongst merchants forward of FED Chair Jerome Powell’s speech at this time.
The derivatives market confirmed shopping for in the previous few hours, as per CoinGlass knowledge. At the time of writing, the entire BTC futures open curiosity jumped 0.1% to $72.98 in an hour. The BTC open curiosity was nonetheless down 1.30% within the final 4 hours and almost 3.50% prior to now 24 hours.
