Elon Musk Endorses Bitcoin, Highlights Its Energy-Based Foundation
Elon Musk has publicly praised Bitcoin, emphasizing its foundation in real energy. This comes after Zero Hedge suggested that the global focus is shifting towards an AI arms race, with nations like the U.S. and China potentially funding it.
- Musk highlighted that while fiat currency can be printed, "you can't print energy," reinforcing Bitcoin's unique value proposition.
- This endorsement led to a brief rebound in Bitcoin's price, though it remains volatile, currently trading at $110,198.99 with a 4.14% dip over the last 24 hours.
Musk's support for cryptocurrencies has previously impacted Dogecoin. His interest often leads to fluctuations in its market value, as seen when DOGE gained 4% following a deal related to his Grok AI project.