Elon Musk returns to praising his currency Bitcoin After years of criticism on environmental grounds, he described it as an “energy currency” that cannot be counterfeited, unlike paper currencies. The Tesla CEO tweeted on Tuesday: “You can issue counterfeit paper money, and every government throughout history has done so, but it is impossible to counterfeit energy.“.
This statement of support follows an article discussing artificial intelligence (AI) becoming “Global arms race“New, as governments resort to devaluing their currencies to finance huge IT infrastructures.
Elon Musk estimated that Bitcoin mining, which relies on energy consumption according to the proof of work mechanism, represents real value in itself, comparing it to unlimited printing of paper money.
A change in Musk’s stance towards Bitcoin after three years of focus on Dogecoin-DOGE
Bitcoin’s price rebounded to around $112,000 following Musk’s comments, recovering from a recent low of $102,000 during the Oct. 10 selloff that removed more than $19 billion from leveraged positions.
This support represents Musk’s strongest pro-Bitcoin speech since Tesla’s purchases in 2021, when it acquired $1.5 billion worth of Bitcoin.
Elon Musk’s history with digital currencies has also been characterized by volatility and market impact. Add a tag #bitcoin to the bio box on its Twitter account in January 2021, which caused its price to increase by 10%, while Tesla’s announcement to accept Bitcoin as payment in February 2021 pushed the price of the currency to unprecedented levels.
However, it reversed this decision in May 2021 due to environmental concerns, causing a 12% drop. Later, Tesla sold 75% of its Bitcoin reserves in the second quarter of 2022 for $936 million and only kept $184 million worth of it.
Reports indicate that SpaceX wrote off $373 million of its Bitcoin holdings over the years 2021 and 2022, but blockchain data confirms that the company so far owns 6,977 Bitcoins, worth an estimated $818 million in the custody of Coinbase Prime. Prime).
Meanwhile, Musk turned to defending Dogecoin throughout the 2022 to 2024 period, as he worked to include it in the X platform (formerly Twitter) and cooperated with developers to improve the efficiency of its transactions.
Indeed, when a user commented on his recent tweet about Bitcoin saying: “Dogecoin also depends on energy“, Musk followed with an emoji.”
”, emphasizing his continued support for this meme currency.
– Elon Musk (@elonmusk) October 14, 2025
Energy requirements of artificial intelligence lead to hypothesis of currency devaluation
Elon Musk directly ties his support for Bitcoin to growing concerns about the devaluation of fiat currencies as a way to fund the expansion of artificial intelligence (AI) infrastructure. The U.S. Department of Energy expects data centers to consume between 325 and 580 terawatt hours per year by 2028, equivalent to providing electricity to 30 to 50 million homes, which will require the construction of 40 to 70 new nuclear reactors by 2028, each producing about 8,000 gigawatt hours (GWh) per year.
This estimate represents an impossible challenge given that the United States has added only two reactors in the past 30 years and each new plant takes more than a decade to build under current regulations.
Goldman Sachs Research predicts that global data center energy demand will increase 165% by 2030 to 145 gigawatts (GW), while artificial intelligence workloads currently constitute 14% of data center consumption and could reach 27% by 2027, the equivalent of approximately 39.15 GW. By 2040, DNV predicts that data centers in the United States and Canada could account for 16% of electricity consumption, with 12% related to artificial intelligence.
As for Bitcoin, it currently consumes around 198 terawatt hours per year, which is equivalent to the entire energy consumption of Thailand. Each transaction requires approximately 1,120 kilowatt hours (kWh), which far exceeds the consumption of traditional payment systems.
Although AI currently consumes less energy, overall demand for Bitcoin is expected to increase within a few years as computing needs increase.
This energy comparison also reinforces Musk’s view that “You cannot print/simulate energy“This gives Bitcoin mining real value attached to physical resources, something fiat currencies lack. This position is consistent with broader concerns.” regarding the devaluation of the currency, While governments resort to financing technological arms races by issuing currencies.
Technical analysis: Opportunity to withdraw liquidity before the next recovery wave
Bitcoin is trading near $111,810 at what analysts define as “Massive rising channel“It extends between two upward-sloping parallel trend lines.
The upper boundary of the channel marks the $127,000-$128,000 zone, while lower support lies between $103,000-$105,000, and the recent liquidation event briefly broke this lower boundary before recovering.
Analysis of trading volume revealed significant trading activity concentrated between $110,000 and $115,000, with smaller liquidity pools around $107,000 and $109,000, and larger pools between $116,000 and $120,000.
Finally, analysts expect that Bitcoin will likely attract bearish liquidity towards $107,000 – $109,000, while the key area between $100,000 and $103,000 represents the separation level that determines whether or not the broader bullish structure will maintain its strength.
In general, Bitcoin should see relative stability between $110,000 and $116,000, with the possibility of a temporary correction towards $107,000 – $109,000 before attempting to recover between $116,000 and $120,000, where liquidity pools are concentrated. However, a decline below $100,000 – $103,000 will indicate the start of a deeper correction and perhaps a structural change in the overall trend.
The post Elon Musk calls Bitcoin (BTC) an “energy currency” and confirms that it is impossible to counterfeit, unlike paper currencies. Are we on the verge of an unprecedented peak? appeared first on Cryptonews Arabic.
