Overview
- In a resurfaced interview with Nikhil Kamath, Musk said Bitcoin is “based on energy” and argued you can print money but not energy.
- Bitcoin dropped more than 4% over 24 hours to the mid-$80,000s, with some outlets noting intraday declines near 8%.
- Peter Schiff responded by calling Bitcoin a “fake asset” and questioned Michael Saylor’s approach, keeping the value debate in the spotlight.
- CoinGlass and Whale Insider data indicate over $7.8 billion of short positions would be liquidated on a run toward $100,000, creating the risk of rapid upside if resistance breaks.
- Musk also sketched a longer-run view in which advances in AI and robotics make money less relevant, leaving energy as a primary measure of value.