Mason Versluis1.5 Million+ Creator, Founder, Investor

Elon Musk Said WHAT About Bitcoin!?

Name: Elon Musk Said WHAT About Bitcoin!?
Uploaded: 2025-10-16T16:49:17+00:00
Duration: 1 min 54 s
Channel: Mason Versluis
Description: In this monologue, the speaker recounts Elon Musk's recent statement that Bitcoin is "backed by energy" and cannot be faked, contrasting it with fiat…

16 Oct 2025 · 2 min

Watch on YouTube

1:54

In this monologue, the speaker recounts Elon Musk's recent statement that Bitcoin is "backed by energy" and cannot be faked, contrasting it with fiat currency's lack of intrinsic backing. The comment dramatically increases the speaker's bullishness toward Bitcoin, prompting a consideration of reallocating funds from altcoins to Bitcoin. The speaker critiques Bitcoin's technical shortcomings—high fees, slow transaction speed, and ambiguity over its role as a store of value versus a medium of exchange—using an analogy of investing in Napster versus Spotify. While acknowledging Bitcoin's perceived outdatedness, the speaker argues that Musk's energy-backed argument provides a compelling reason to view Bitcoin as scarce and valuable, unlike fiat money, which is merely paper backed by belief. The overall narrative blends personal investment sentiment, technical criticism, and macroeconomic comparison, highlighting how influencer commentary can shift individual crypto investment perspectives.

Chapters

What Elon Musk just said about Bitcoin has made me 3 times more bullish on Bitcoin, meaning I am almost willing to take some of my altcoin money and put it in Bitcoin. You guys may or may not know, I don't invest in Bitcoin. Like, I've been in crypto for 7 years and not once has it been appealing to me to invest in Bitcoin, right? That's simply because it's a little bit outdated. There's new stuff that that's coming out. I kind of look at it as investing in Napster when Spotify is like right over here, and you could choose to invest in Spotify or Napster. It's a bit, you know, the fees are too high, it's a bit slow, tons of issues with it, right? But, and the main issue is that it's conflicted. Is it a store of value, or is it something you're gonna pay for your coffee with? Right, like no one's— no one wants to pay for coffee with Bitcoin, right? Why wouldn't— why would you? That could go up and now your coffee was a $50 coffee, it might reach $50 anyways. Um, Elon Musk has said this though, he said Bitcoin cannot be faked, it's backed by energy. It's energy, right? You need the mining to happen and produce, right? Whereas fiat currency, your regular dollars, is backed by nothing. It's printed out of thin air and it's just paper, right? Paper rectangles that we all agree. So fiat has belief and then backed by paper or nothingness, and Bitcoin has belief but it's also backed by the energy that's unfakable. So it's rare we see Elon Musk directly talk about Bitcoin, but when he does, he makes very good points.