Will Money Become Obsolete by 2036? Bitcoin as the Ultimate Currency?

Author: Billy Bambrough, Forbes

Compiled by: AididiaoJP, Foresight News

Since the beginning of this year, Bitcoin and the cryptocurrency market have been mostly stagnant. Traders are on edge, constantly alert for any sudden shocks that may occur.

In February, Bitcoin's price briefly fell below $65,000, after which it entered a downward channel and has struggled to recover. Even with Goldman Sachs' CEO recently declaring support for Bitcoin as the "ultimate catalyst," market sentiment has not quickly rebounded.

Currently, Bitcoin is accelerating towards a significant turning point that could be worth $27.9 trillion. At this critical juncture, Elon Musk, the billionaire leader of SpaceX and Tesla, made a game-changing prediction: within just ten years, money will "no longer matter." This statement could have far-reaching implications for Bitcoin's price.

"By 2036, money will no longer matter," Musk said in an exclusive interview with Zanny Minton Beddoes, the editor-in-chief of The Economist. The interview covered a wide range of topics, and he clearly predicted that the world will transition to a state of "incredible abundance" in the next decade.

"What do you need money for?" Musk countered. The tech giant, who became the world's first trillionaire after SpaceX went public on June 12 and currently has a net worth of around $700 billion, pointed out that robots will become widely available, and people's needs will be easily met. By then, all money will effectively become worthless.

"You need money to buy goods and services, right? Food, housing, transportation, entertainment—all of these require money," Musk explained. "But if the goods and services provided by robots and AI exceed any human consumption limits, then what use is money?"

This prediction is not unfounded. Musk has previously emphasized that "energy is the real currency," which has sparked strong speculation among Bitcoin supporters—he may quietly be endorsing this cryptocurrency. In fact, his two core companies hold substantial Bitcoin reserves: SpaceX owns 18,712 coins, while Tesla holds 11,509 coins.

"Energy is the real currency," Musk responded on X to an account named beffjezos. The user posted, "If you understand money as a proxy for expected free energy, then AI is essentially an infinite money printer."

At the current Bitcoin price of about $65,000, the combined value of Bitcoin held by SpaceX and Tesla is nearing $2 billion.

In October last year, Musk further clarified his stance on X: "Bitcoin is based on energy. You can issue fake fiat currency; every government has done this historically, but energy cannot be faked." He also acknowledged that the "global arms race" towards AI is a significant reason for the recent rise in the prices of gold, silver, and Bitcoin.

However, since then, Bitcoin's price has seen a noticeable decline. Nevertheless, some believe that the bottom has been confirmed and a rebound could start at any time.

Bitcoin's security mechanism relies on a network of miners—these miners use powerful computing power to verify transactions in exchange for newly issued Bitcoin. The entire network consumes as much electricity as some small countries, and as prices rise and more miners join, energy demand continues to climb. This aligns perfectly with Musk's logic that "energy is currency."

Musk's enthusiasm for cryptocurrency has cooled compared to the peak of the COVID-19 pandemic, but he has not completely withdrawn. He continues to express support for Bitcoin and frequently mentions his "favorite" cryptocurrency—Dogecoin.

After stepping away from White House-related matters, Musk has been more direct, stating that his "American Party" will favor Bitcoin over the dollar. In his view, the dollar and other government-issued, debt-based fiat currencies are all "hopeless."

As Bitcoin's price remains low and market sentiment cautious, Musk's prediction about the "obsolescence of money" by 2036 has created ripples, like a stone thrown into still water. Regardless of whether this vision ultimately comes to fruition, it has once again brought Bitcoin into the spotlight—in a potentially abundant era dominated by robots and AI, the true anchor of value may no longer be traditional fiat currency, but rather digital assets deeply tied to energy.

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