Musk Predicts Money Could Become Obsolete by 2036 Amid AI Advancements

Elon Musk has predicted that by 2036, advancements in artificial intelligence and robotics could make money largely obsolete. In a recent discussion with Zanny Minton Beddoes, editor-in-chief of The Economist, Musk stated that ongoing progress in these fields could lead to an abundance of goods and services.

Musk explained that money currently serves as a medium for people to access essential items like food, housing, transportation, and entertainment. However, he believes that the cheap and efficient production of these goods and services through robotics technologies will reduce the significance of scarcity in many parts of the global economy.

The potential implications for Bitcoin are significant, particularly given Tesla and SpaceX's substantial holdings in the cryptocurrency. Musk has previously described energy as the essential basis for money, noting that Bitcoin mining consumes considerable computational resources and electricity.