Elon Musk Calls Bitcoin an Energy Currency While Peter Schiff Slams It as ‘Fake Asset’

Highlights:

• Elon Musk calls BTC an energy-based currency that could outlast traditional money.
• Musk says advanced AI and robots could reduce money’s role in future society.
• Peter Schiff says BTC is a “fake asset” and doubts its real value.

Elon Musk shared his thoughts on Bitcoin, describing it as a kind of “energy currency” that might last longer than regular money. On a podcast with Indian investor Nikhil Kamath, he said that in the future, the idea of money could fade. He said this might sound “strange,” but if “anyone can have anything,” people may not need money to track work or share resources. He linked this thought to artificial intelligence and robotics. 

Out now @elonmusk pic.twitter.com/dQVLniUgWA

— Nikhil Kamath (@nikhilkamathcio) November 30, 2025

Musk Says Bitcoin Could Be an Energy-Based Currency in the Future

Musk said that if AI and robots can meet all human needs, money might lose much of its role. He also recommended the Culture book series by Scottish writer Iain Banks to imagine how such a world could function. In that kind of world, he explained, people wouldn’t have money, and everyone could get what they want. Still, he said some forms of value would stay important. “Some basic currencies, if you like, follow physical rules,” he noted, pointing to energy. “Energy is the real currency,” Musk added.

Musk said Bitcoin fits the future because it is linked to energy. He said, “This is why I say Bitcoin is based on energy.” Mining Bitcoin uses real electricity and computing power to secure transactions. This connects its value to the physical world. He said energy is stronger than government control. “You can’t make energy by passing a law,” he explained. Creating and using energy efficiently is very hard.

Musk said energy might become the main form of currency. Whoever controls energy well would have the most value. Bitcoin’s proof-of-work shows this idea. It turns electricity and machines into digital scarcity that politicians or banks cannot change.

Musk spoke about BTC and energy while people debate its power use. Critics say it makes carbon emissions and puts pressure on power grids. Supporters say mining can use cleaner energy and help manage the grid. Musk did not say when energy could replace money. His idea needs very advanced AI and robots, which are not ready yet. For now, normal money and payment systems are still used for trade, savings, and salaries. Bitcoin is mainly an investment and a long-term bet on a future system based on energy.

Schiff Criticizes BTC While Saylor Shows Long-Term Confidence

Peter Schiff renewed his attacks on Bitcoin and Michael Saylor’s Strategy. He said the Bitcoin price is not falling because it is risky, but because he thinks it is a “fake asset.” Schiff compared Bitcoin to the Nasdaq and said the difference shows a move toward what he calls “real assets.” He also said Strategy cannot pay preferred-share dividends without selling more shares or selling Bitcoin. He called the setup similar to a Ponzi scheme and said it shows weak fundamentals. 

.@Saylor claims MSTR's business is issuing digital credit by selling preferred stock that pays 8% or 10% dividends if $MSTR declares them. But as MSTR has no income, unless it sells Bitcoin it can only pay dividends by selling more preferreds. In other words, it’s a Ponzi scheme.

— Peter Schiff (@PeterSchiff) November 30, 2025

However, Michael Saylor hinted at buying more Bitcoin, showing Strategy still believes in the coin for the long term.

What if we start adding green dots? pic.twitter.com/a19bD33KzD

— Michael Saylor (@saylor) November 30, 2025