World-renowned billionaire Elon Musk has made a startling prediction: within the next decade, the world will enter an era where money holds little significance. This report comes via Forbes.
In a recent, extensive interview with Zanny Minton Beddoes, Editor-in-Chief of The Economist, Musk stated that by 2036, money would no longer have any value.
According to him, the world is set to enter an age of “incredible abundance” within the next ten years. In the interview, Musk asked, “Why do you need money? To purchase goods and services—for food, housing, transportation, or entertainment. But if robots and artificial intelligence (AI) produce so many goods and services that no human can possibly consume them all, what need would there be for money?”
Musk believes that the widespread adoption of robots and AI will easily satisfy all human needs, fundamentally altering the conventional concept of money.
Elon Musk became the world’s first trillionaire after SpaceX was listed on the stock market on June 12. However, his net worth has since declined to approximately $700 billion.
Musk has previously made unconventional remarks regarding the economy.
He once stated that energy is the “true currency.” When he made this comment on the social media platform X, many Bitcoin supporters speculated that Musk was indirectly expressing support for the world’s most popular cryptocurrency.
In a post, Musk wrote that Bitcoin is based on energy. He noted that while fiat currency can be counterfeited—something almost every government in history has done—it is impossible to counterfeit energy.
He also agreed that the ongoing global race surrounding artificial intelligence is a key factor driving the recent rise in the prices of gold, silver, and Bitcoin.
Currently, two of Musk’s companies—SpaceX and Tesla—hold significant amounts of Bitcoin. According to a Forbes report, SpaceX holds 18,712 Bitcoin, while Tesla holds 11,509 Bitcoin.
At current market rates, the total value of the Bitcoin held by these two companies is approximately $2 billion.
Following these remarks by Musk, fresh discussions have emerged among technology and economic analysts regarding the future financial system and the roles of AI and cryptocurrency.
