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Is Elon Musk Getting Interested in Bitcoin Again?
"Bitcoin is based on energy," said the Tesla chief early Tuesday. "It is impossible to fake energy."
Updated Oct 14, 2025, 5:52 p.m. Published Oct 14, 2025, 12:40 p.m.
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What to know:
- Other than selling a sizable chunk of Tesla's bitcoin near the bottom of the 2022 bear market, Elon Musk has been quiet for years regarding the world's largest crypto.
- An X post this morning suggested Musk is continuing to pay attention.
Led by Elon Musk, Tesla famously purchased $1.5 billion worth of bitcoin in early 2021 and announced plans to accept BTC as payment for its products.
Within months though, Musk — proclaiming himself worried about the massive amounts of energy required to secure the bitcoin network — said Tesla would no longer accept bitcoin for payment until he was satisfied bitcoin wasn't contributing to climate change.
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Little has been heard since from Musk regarding bitcoin, other than Tesla dumping 75% of its bitcoin stack mid-2022, not far from the epic bottom of the crypto winter.
Musk, in fact, has seemingly gone out of his way not to get drawn into bitcoin discussions, waving away Cathie Wood during an online chat more than a year ago when she tried to bring up the subject, and keeping his distance from the Trump administration's plans regarding the crypto.
Interest renewed?
That may have changed today though. In the pre-dawn U.S. hours, Musk took the time to respond to a Zerohedge X post trying to explain gold, silver and bitcoin at or near record highs.
"Money is not the problem: AI is the new global arms race, and capex will eventually be funded by governments (US and China)," said ZH. "If you want to know why gold/silver/bitcoin is soaring, it's the 'debasement' to fund the AI arms race ... But you can't print energy," ZH concluded.
"True," replied Musk. "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."
Whether this means Musk's full engagement with Bitcoin again remains to seen, but the mercurial business leader appears to be paying attention to the "debasement trade."
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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