Is Elon Musk Getting Interested in Bitcoin Again?

What to Know

• Elon Musk has sparked renewed speculation about Bitcoin after commenting that “Bitcoin is based on energy” and that “it is impossible to fake energy.”
• This is Musk’s most direct public remark about Bitcoin since 2022, reigniting market discussions about his stance on cryptocurrency.
• Tesla previously bought $1.5 billion worth of Bitcoin in 2021 and later sold 75% of its holdings during the 2022 bear market.
• His latest statement suggests he might be revisiting Bitcoin’s underlying value and its connection to real-world energy use.
• Investors and analysts are watching closely to see whether Tesla could once again embrace Bitcoin payments or holdings.

Elon Musk and Bitcoin: A Complex History

Elon Musk’s relationship with Bitcoin has been nothing short of eventful. In early 2021, Tesla shocked the financial world by purchasing $1.5 billion worth of Bitcoin and announcing plans to accept BTC as payment for its cars. The move instantly positioned Musk as one of Bitcoin’s most influential corporate supporters, helping drive the cryptocurrency’s price to new all-time highs.

However, the enthusiasm didn’t last long. Only a few months later, Musk announced that Tesla would suspend Bitcoin payments, citing concerns about the environmental impact of Bitcoin mining. He stated that the network’s high energy consumption — particularly from non-renewable sources — was at odds with Tesla’s mission of promoting sustainable energy solutions.

This reversal sent shockwaves through the crypto market, leading to sharp price corrections and a renewed debate about Bitcoin’s energy footprint.

Tesla’s Bitcoin Strategy Shift

Following the payment suspension, Tesla continued to hold its Bitcoin investment for more than a year. But in mid-2022, during the depths of the crypto bear market, the company sold roughly 75% of its holdings. The sale occurred close to Bitcoin’s price bottom, marking one of the most notable exits by a major corporate investor.

Since then, Musk has largely distanced himself from Bitcoin-related discussions. Even when prominent figures like Cathie Wood brought up the topic, Musk appeared uninterested, preferring to focus on artificial intelligence, electric vehicles, and space technology. For nearly two years, his silence left many wondering whether he had permanently moved on from crypto.

A Renewed Spark of Interest

That changed in mid-October 2025. During early morning U.S. hours, Musk replied to a post on X from ZeroHedge discussing the surge in gold, silver, and Bitcoin prices. The post argued that global economic policies and the rising cost of funding the AI race between the U.S. and China were fueling demand for scarce assets. It concluded by stating, “You can’t print energy.”

Musk responded simply but powerfully: “True. 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.”

His comment immediately gained traction online, with Bitcoin enthusiasts interpreting it as a potential sign that Musk’s outlook toward the cryptocurrency is becoming more favorable again. While he didn’t explicitly confirm any new Bitcoin purchases or policy changes at Tesla, the acknowledgment itself marked Musk’s most direct mention of Bitcoin in years.

Why Musk’s Comments Matter

Elon Musk’s influence on markets is undeniable. His past comments have caused Bitcoin’s price to surge or drop within minutes, and investors often pay close attention to even his brief remarks. His statement linking Bitcoin to energy carries philosophical and economic weight — emphasizing Bitcoin’s unique foundation as a proof-of-work system where real energy expenditure underpins the network’s value and security.

The idea that “you can’t fake energy” aligns with the long-held argument among Bitcoin supporters that its mining process, while energy-intensive, provides a form of digital scarcity that cannot be replicated by printing money or creating tokens arbitrarily.

If Musk truly believes in this principle again, it could influence broader sentiment among institutional investors, potentially driving renewed interest in Bitcoin as a hedge against inflation and currency debasement.

The Bigger Picture: Bitcoin, AI, and the Global Economy

Musk’s remarks come at a time when global markets are undergoing major transformations. Governments around the world are investing heavily in artificial intelligence infrastructure, which Musk described as “the new global arms race.” Funding these massive projects often requires increased capital expenditure — and some analysts argue that this could lead to further monetary expansion or currency “debasement.”

In that context, assets like Bitcoin, gold, and silver are being viewed as stores of value in an uncertain financial environment. Bitcoin, in particular, offers a decentralized alternative to traditional currencies, aligning with Musk’s broader vision of technological and financial independence.

While there is no confirmation that Tesla or Musk personally plan to re-enter the Bitcoin market, his public acknowledgment of Bitcoin’s energy-based foundation has already sparked speculation that the narrative may be shifting once again.

Could Tesla Revisit Bitcoin Payments?

Given Tesla’s previous stance, it’s possible that future developments in renewable energy use for Bitcoin mining could change Musk’s position. Over the past two years, the industry has made progress toward using greener energy sources, with several large mining operations transitioning to hydroelectric, solar, and wind power.

If Musk becomes convinced that Bitcoin’s environmental footprint aligns with his sustainability goals, Tesla could, in theory, reconsider accepting Bitcoin for payments or holding it as part of its corporate treasury once again. Such a move would likely generate major headlines and have a significant impact on the crypto market.

Q&A

Is Elon Musk buying Bitcoin again?

As of now, there’s no official confirmation that Elon Musk or Tesla has purchased additional Bitcoin. However, his recent comments suggest a renewed philosophical interest in the cryptocurrency.

Why did Tesla stop accepting Bitcoin payments?

Tesla suspended Bitcoin payments in 2021 due to environmental concerns related to Bitcoin mining’s energy consumption. Musk said the company would resume accepting BTC once mining becomes more sustainable.

What does Musk mean by “Bitcoin is based on energy”?

Musk’s comment refers to Bitcoin’s proof-of-work mechanism, which requires real energy expenditure to validate transactions and secure the network. This system makes Bitcoin resistant to manipulation and distinguishes it from traditional fiat money, which can be printed at will.

Could Musk’s comments influence Bitcoin’s price?

Yes, historically, Musk’s statements have had an immediate effect on Bitcoin’s price due to his massive social media influence and status as one of the world’s most followed entrepreneurs.

Will Tesla reintroduce Bitcoin payments?

It’s uncertain, but if Bitcoin mining continues to adopt renewable energy sources, Tesla might reconsider integrating Bitcoin payments in the future.