From Doge To Bitcoin: How Fiat Accidentally ‘orange-pilled’ Elon Musk

Elon Musk’s viral comments on Bitcoin’s intrinsic ties to energy and physics signal a changing attitude toward Bitcoin from Tesla’s founder.

Elon Musk’s ambitious goals of tackling excess spending and inefficiencies in the US federal government may have been futile, but it might have been the catalyst for his changing tune on Bitcoin.

So, why is @elonmusk finally talking about Bitcoin's intrinsic connection to physics and energy?As @DSBatten eloquently explains, Elon has firsthand experience trying to stop excess government spending with @DOGE."He's run that experiment and he knows that it is not possible… pic.twitter.com/pmLodj8Yf6

The Tesla and SpaceX founder went viral on social media after suggesting that Bitcoin would replace fiat money because of it’s intrinsic connection to physical energy. Musk made the comments in conversation with Indian entrepreneur Nikhil Kamath:

“You can’t legislate energy. You can’t just pass a law and suddenly have a lot of energy. It’s very difficult to generate energy, or especially to harness energy in a useful way to do useful work,” Musk said.

Naturally, the viral clip was shared widely by Bitcoin advocates and industry experts. It is also one of the first times Musk has publicly spoken about Bitcoin in recent years. He went on to to tell Kamath that society could move away from the prevailing fiat money-based system.

“We probably won’t have money. We’ll just have power generation as the defacto currency,” Musk said.

Bitcoin mining advocate Daniel Batten told Cointelegraph’s Chain Reaction show that Musk’s futile efforts to assist the Trump administration to address excess government expenditure have inevitably changed his perception on the financial system.

Now, this is a show I've wanted to do for a while!@DSBatten, Bitcoin misinformation detector and bringer of receipts, joined @gazza_jenks and me to talk @elonmusk's wise words, the media's portrayal of mining, and the slew of Strategy stories.https://t.co/o7Y28Q9yoI

“Elon’s been on a journey because he started off sincerely believing that it was possible to rein in government spending within a fiat-based economic system. And he had to run that experiment, set up DOGE and have it fail,” Batten said.

Source: CoinTelegraph