Is Bitcoin Undervalued? What Elon Musk’s Energy Money Idea and Hashrate Data Show
BTC when published $83,381Now $80,577 ▼ −3.36% since it was published
Elon Musk says future currency will be measured in wattage and tonnage, not dollars. Analyst Charles Edwards says Bitcoin (BTC) already works that way, and it trades about 36% below its energy-based value. Musk never mentioned Bitcoin in the interview. Still, money anchored to energy describes the one property proof-of-work already builds into the network. What Does Elon Musk Mean by Money Measured in Energy? Musk made the remarks to his biographer, Walter Isaacson, on The Builders podcast. The interview was taped in early August and released on October 20. Musk argued that AI and robotics will make money and work irrelevant. However, he stopped short of predicting the end of currency.
First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.
