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Elon Musk Links Bitcoin’s Energy Model to Inflation Concerns Amid AI Arms Race
Elon Musk has highlighted Bitcoin’s potential to protect investors from government money printing. His remarks follow growing speculation that public spending could rise as nations compete to develop artificial intelligence. In a post on X, Musk pointed to Bitcoin’s proof-of-work system, describing it as an energy-based mechanism that prevents artificial value creation. He said that while governments can produce more fiat currency, “it is impossible to fake energy.” “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 ... (full story)