{"id":349091,"date":"2025-10-14T13:35:17","date_gmt":"2025-10-14T18:35:17","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/10\/14\/elon-musk-praises-bitcoins-resistance-to-inflation\/"},"modified":"2025-10-14T13:35:17","modified_gmt":"2025-10-14T18:35:17","slug":"elon-musk-praises-bitcoins-resistance-to-inflation","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/10\/14\/elon-musk-praises-bitcoins-resistance-to-inflation\/","title":{"rendered":"Elon Musk Praises Bitcoin’s Resistance To Inflation"},"content":{"rendered":"

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Elon Musk appears to be publicly paying attention to bitcoin again after years of silence.<\/p>\n

The Tesla and SpaceX CEO broke a three-year quiet streak on bitcoin early Tuesday, commenting on an X post from financial outlet ZeroHedge that tied surging gold, silver, and Bitcoin prices to global monetary \u201cdebasement\u201d driven by artificial intelligence spending.<\/p>\n

\u201cTrue,\u201d Musk replied<\/a>. \u201cThat 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.\u201d<\/p>\n

Musk\u2019s bitcoin mention drew immediate market attention on X, with traders seeing it as a potential sign of renewed interest from Musk, echoing bitcoin\u2019s narrative as \u201cdigital energy\u201d or \u201cdigital gold.\u201d<\/p>\n

After the post, pro-Bitcoin Sen. Cynthia Lummis<\/a> (R-Wyo.) praised Musk on X, saying a Strategic Bitcoin Reserve<\/a> would secure U.S. debt with a scarce, auditable asset and could help retire a significant portion of it in the future.<\/p>\n

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JUST IN: \ud83c\uddfa\ud83c\uddf8 Senator Lummis tells Elon Musk, \u201cStrategic #Bitcoin<\/a> Reserve is the wisest thing we can do to shore up USD.\u201d<\/p>\n

\u201cGiven its scarcity, we can also use it in 20+ yrs to retire a meaningful % of US debt.\u201d pic.twitter.com\/39TvNSXazR<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) October 14, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

In March, President Trump signed an Executive Order creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile to centralize government-held crypto.\u00a0<\/p>\n

The Reserve, including the $14 billion in recently seized bitcoin, is to be held as a store of value and not sold.<\/p>\n

Elon Musk\u2019s rocky history with Bitcoin<\/h2>\n

Tesla famously purchased<\/a> $1.5 billion worth of Bitcoin in early 2021 and announced plans to accept BTC for vehicle payments. <\/p>\n

Back in 2021, Musk said<\/a>, \u201cI think Bitcoin is a good thing. I am a supporter of Bitcoin. I am late to the party but a supporter. I think Bitcoin is on the verge of getting broad acceptance by conventional finance people.\u201d<\/p>\n

Within months, however, Musk reversed course, citing environmental concerns about Bitcoin mining\u2019s heavy reliance on fossil fuels.<\/p>\n

\u201cTesla has suspended vehicle purchases using Bitcoin,\u201d he said at the time, adding that payments would resume once mining used \u201cmore sustainable energy.\u201d<\/p>\n

In mid-2022, Tesla sold<\/a> roughly 75% of its Bitcoin holdings \u2014 near the bottom of the market\u2019s decline \u2014 while maintaining a remaining stash of about 11,509 BTC, currently worth an estimated $1.29 billion, according to CoinGecko data.\u00a0<\/p>\n

Tesla sold the bulk of their holdings at an average price of roughly $29,000. Bitcoin recently hit all time highs<\/a> at the $126,000 range.<\/p>\n

Since then, Musk has largely avoided public commentary on Bitcoin and even brushed off attempts to discuss it in interviews.<\/p>\n<\/div>\n