SpaceX and Tesla CEO Elon Musk Issues Stark 2036 Prediction That Could Be About To Blow Up The Bitcoin Price
Forbes • • business
Key Points:
- Bitcoin prices have traded sideways in 2024, remaining below $65,000 since February, with traders anticipating a significant market shift amid mixed signals from major figures like Goldman Sachs' CEO.
- Elon Musk predicts that by 2036, money will become irrelevant due to an abundance of goods and services produced by robots and AI, which could drastically impact the future value and role of bitcoin.
- Musk emphasizes energy as the "true currency," linking bitcoin's value to its energy basis and highlighting his companies SpaceX and Tesla's combined bitcoin holdings worth nearly $2 billion.
- Despite a reduction in his crypto enthusiasm since the pandemic peak, Musk continues to support bitcoin and dogecoin, criticizing fiat currencies and suggesting his political movement would prefer bitcoin over the U.S. dollar.
- Bitcoin's energy-intensive mining process remains a key factor in its valuation and environmental debate, as its electricity consumption rivals that of some small countries and grows with increased network participation.
