Elon Musk, CEO of Tesla and SpaceX, has once again stirred the cryptocurrency community after a long silence with just one word “True.” His response on X (formerly Twitter) to a post suggesting that Bitcoin’s rise is tied to “energy-based value creation” reignited speculation about Musk’s evolving stance on the world’s largest cryptocurrency.
Back in early 2021, Tesla made headlines by investing $1.5 billion in Bitcoin and announcing plans to accept it as payment for its vehicles. The move fueled excitement across financial markets, but only months later, Musk reversed the decision, citing environmental concerns about the energy consumption of Bitcoin mining. He stated that payments would only resume once the industry shifted toward renewable energy sources.
That sudden reversal triggered strong market volatility and marked the beginning of Musk’s retreat from active discussions about crypto. In mid-2022, during the so-called “crypto winter,” Tesla sold around 75% of its Bitcoin holdings, citing the need to strengthen its cash position amid uncertain economic conditions. Since then, Musk remained largely silent on Tesla’s digital asset strategy until now.
As 2025 enters its final quarter, Musk’s brief comment in response to a post by ZeroHedge suggested that he views Bitcoin’s energy-based monetary structure as more resilient to manipulation than traditional fiat systems especially as global government spending and AI competition between the U.S. and China continue to devalue national currencies.
Despite selling most of its Bitcoin in 2022, Tesla still holds a significant amount: 11,509 BTC, currently valued at approximately $1.27 billion, according to Arkham Intelligence. While Musk’s recent statement doesn’t necessarily signal a policy shift at Tesla, it shows the company’s ongoing interest in digital assets. His one-word reply has reignited debate across the crypto world and with Tesla’s strong focus on energy efficiency, many believe a return to Bitcoin payments could be possible if renewable energy use continues to grow, potentially restoring investor confidence in the process.