Elon Musk Backs Bitcoin Amidst Government AI Spending

Tesla CEO Elon Musk recently expressed his support for Bitcoin, emphasizing its resilience against fiat currency manipulation. In a public statement, Musk attributed Bitcoin’s success to its limited supply and the government’s potential to debase their currencies by funding AI development. This commentary comes as governments ramp up investments in artificial intelligence (AI), potentially leading to increased inflation and prompting discussions about alternative store of value like Bitcoin.