Elon Musk expects the extinction of the currency and believes that the energy approach of Bitcoin (BTC) can survive.

Elon Musk imagined a future in which the use of cash in daily life would disappear, while the use of cash in daily life would disappear. Energy must be replaced as the primary criterion of wealth and power; Speaking during his recent podcast with Indian entrepreneur and investor Nikhil Kamath, Musk explained his belief that “the concept of money will eventually disappear.”

Although he called the idea “pretty weird,” Musk argued that in a future where “anyone can own anything,” people “would no longer need money as a basis for dividing up work.”

He also directly linked his vision to advances in the fields of artificial intelligence and robotics, stating: “If artificial intelligence and robotics become sectors powerful enough to meet all human needs, then money will no longer matter…its importance could diminish significantly.” »

To solidify this idea, Musk referenced science fiction, citing the “Culture” book series by Scottish author Iain Banks, and recommended his followers read it.

Energy will replace money according to Musk’s future vision, with Bitcoin fitting this model

Musk said that in this distant future, “there will be no money, but almost everyone will have access to what they want.”

Even in this post-scarcity world, Musk believes that some forms of value will remain important, telling Kammat: “There will be fundamental currencies, so to speak, based on physics. ” He then shifted the conversation to energy, explaining that “energy will be the real currency” and explained why Bitcoin fits his vision saying, “That’s why I say BTC is based on energy.” The blockchain design requires miners to consume energy resources according to real computing to secure the system, which from its point of view connects digital value to the tangible world.

Musk describes energy as the ultimate reserve of energy beyond government policies

Musk drew a clear line between energy and political forces, saying, “You can’t legislate energy.” He added: “You know, you can’t pass a law that suddenly gives you an abundance of energy,” describing energy production as “very difficult, especially harnessing energy in a useful way, to accomplish useful tasks.”

He went on to explain: “It is possible that we will only have energy, and de facto, energy production will also be considered a currency. » In this context, whoever controls the most efficient and abundant energy sources will in fact control the strongest “currency”.

This idea aligns with Bitcoin Blockchain’s Proof of Work (PoW) algorithm, which transforms electricity and computing resources into a verifiable digital shortage, and its proponents often argue that this link to the cost of energy in the tangible world will create a monetary system that central banks are incapable of inflating and politicians are incapable of reshaping.

The fight between regulators and activists continues over the pros and cons of Bitcoin in energy systems.

Musk’s statements come as the Bitcoin blockchain’s high consumption of energy resources continues to represent one of the most controversial issues in policy circles, as its environmental critics worry about its carbon footprint and its burden on power grids, while its supporters believe mining activities can spur the trend toward less polluting energy resources and better rebalancing of power grid loads.

Although Musk did not specify a timetable for the transition to a value system linked to energy resources, his scenario – which assumes the domination of artificial intelligence and robotic systems over reality – remains mere speculation. Currently, official currencies and traditional payment systems still dominate trading, savings and wages, while Bitcoin is traded as an asset whose value doubles as a long-term bet on a single type of monetary system.

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