Elon Musk, the CEO of Tesla and SpaceX, has once again piqued the interest of the crypto community with his recent comments on Bitcoin 
$77,560 after a prolonged silence. On social media platform X, Musk replied “True” to a post suggesting that Bitcoin’s rise is linked to “energy-based value production.” This simple response has sparked new speculations about Musk possibly reevaluating his earlier stance on Bitcoin, leading to renewed focus on Musk’s influence in the cryptocurrency space.
The Period of Silence and a Single-Word Comeback
Musk’s recent remarks have rekindled discussions on Tesla’s complicated relationship with Bitcoin. At the start of 2021, Tesla shook both Wall Street and the crypto market by investing $1.5 billion in Bitcoin. The company also announced plans to accept Bitcoin for vehicle payments, stirring excitement across the markets. However, just a few months later, Musk withdrew this decision citing environmental concerns, criticizing Bitcoin mining’s reliance on fossil fuel energy consumption. He stated that payments would only resume if there’s a significant increase in renewable energy usage.
This sudden backtracking caused considerable market volatility and diminished Musk’s active involvement in cryptocurrency discussions. Amid the crypto winter of mid-2022, Tesla sold roughly 75% of its Bitcoin holdings, raising eyebrows with its timing as Bitcoin prices neared rock-bottom. The company explained that the sale was aimed at strengthening its cash position amid uncertain economic conditions. During this period, Musk remained silent on Tesla’s cryptocurrency strategy, refraining from offering additional explanations.
This silence persisted through 2023 and 2024. Yet, as 2025’s final quarter approached, Musk broke the silence. Responding to a renowned X user, ZeroHedge, Musk agreed with a comment asserting that increased spending by global governments on AI competitiveness between the US and China devalues currencies. His “True” comment emphasized Bitcoin’s energy-based structure as more resistant to manipulation compared to fiat currency systems.
Tesla Still Holds Bitcoin
Despite the major sell-off in 2022, Tesla still holds a significant amount of Bitcoin. According to Arkham Intelligence, the company possesses 11,509 BTC, currently valued at around $1.27 billion. While Musk’s recent comments don’t indicate a change in Tesla’s strategy, they do demonstrate the company’s ongoing interest in digital assets. Meanwhile, in recent weeks, MicroStrategy CEO Michael Saylor also announced an increase in Bitcoin purchases.
Saylor’s statement that “Bitcoin is the digital form of energy and time” aligns with Musk’s comments. This approach, which centers on the concept of energy and value creation, strengthens the possibility of institutional investors returning to Bitcoin.
Elon Musk’s single-word response created a strong resonance within the crypto community. Given Tesla’s focus on energy efficiency, it’s possible that Musk’s views on Bitcoin are reshaping. If renewable energy usage continues to rise, Tesla’s resumption of Bitcoin payments isn’t out of the question, which could renew confidence among both institutional and individual investors.
