Is energy currency? Musk and Bitcoin have just found common ground

Recently, a well-known tech figure made an interesting observation: energy is truly the real form of currency. The Bitcoin community sees this as an indirect acknowledgment of the leading cryptocurrency system. The reason is simple – Bitcoin operates on a proof-of-work principle, a mechanism directly linked to energy consumption, unlike traditional currencies that governments can issue at will.

Energy Philosophy and Bitcoin

A few weeks ago, during a podcast interview, this tech billionaire explained in more detail the logic behind his viewpoint. He emphasized that it is impossible to “enact laws” to create energy, just as it is impossible to print more Bitcoin at any time. This aligns with an important principle: the development of civilization should be measured by the ability to control and utilize energy (the Kardashev scale).

However, his perspective is not unconditional. He also predicts that currencies will eventually become obsolete as society enters a post-scarcity era, where artificial intelligence and robots manage most of the economy.

Tesla’s Change of Stance

In 2021, this tech company purchased $1.5 billion worth of Bitcoin and planned to use it as a payment method. However, just a few weeks later, the company reversed this decision. The main reason: a conflict between the company’s sustainability commitments and the reality that Bitcoin at that time heavily depended on concentrated mining operations in coal-powered regions, especially in China’s Xinjiang province.

Turning Point in Mining Energy

From 2021 to 2025, the landscape has changed significantly. China banned cryptocurrency mining activities in mid-2021, forcing miners to seek new conditions. They moved to locations with natural energy advantages such as Texas (with wind and solar energy) or Iceland (with geothermal energy).

The result is a positive shift. According to a recent report from the Cambridge Centre for Alternative Finance, Bitcoin mining has surpassed 50% renewable energy usage. This transition not only improves Bitcoin’s image but also creates opportunities for leaders like him to reconcile their initial views without being seen as inconsistent.