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Is Elon Musk Getting Interested in Bitcoin Again?
"Bitcoin is based on energy," said the Tesla chief early Tuesday. "It is impossible to fake energy."
Updated Oct 14, 2025, 5:52 p.m. Published Oct 14, 2025, 12:40 p.m.
What to know:
- Other than selling a sizable chunk of Tesla's bitcoin near the bottom of the 2022 bear market, Elon Musk has been quiet for years regarding the world's largest crypto.
- An X post this morning suggested Musk is continuing to pay attention.
Led by Elon Musk, Tesla famously purchased $1.5 billion worth of bitcoin in early 2021 and announced plans to accept BTC as payment for its products.
Within months though, Musk — proclaiming himself worried about the massive amounts of energy required to secure the bitcoin network — said Tesla would no longer accept bitcoin for payment until he was satisfied bitcoin wasn't contributing to climate change.
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Little has been heard since from Musk regarding bitcoin, other than Tesla dumping 75% of its bitcoin stack mid-2022, not far from the epic bottom of the crypto winter.
Musk, in fact, has seemingly gone out of his way not to get drawn into bitcoin discussions, waving away Cathie Wood during an online chat more than a year ago when she tried to bring up the subject, and keeping his distance from the Trump administration's plans regarding the crypto.
Interest renewed?
That may have changed today though. In the pre-dawn U.S. hours, Musk took the time to respond to a Zerohedge X post trying to explain gold, silver and bitcoin at or near record highs.
"Money is not the problem: AI is the new global arms race, and capex will eventually be funded by governments (US and China)," said ZH. "If you want to know why gold/silver/bitcoin is soaring, it's the 'debasement' to fund the AI arms race ... But you can't print energy," ZH concluded.
"True," replied Musk. "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."
Whether this means Musk's full engagement with Bitcoin again remains to seen, but the mercurial business leader appears to be paying attention to the "debasement trade."
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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