According to @simplykashif, Elon Musk stated that energy is the true currency and linked Bitcoin BTC to energy in an X post on Nov 30, 2025, highlighting the energy-based narrative around BTC mining. Source: @simplykashif on X. This aligns with Bitcoin’s proof-of-work design where miners expend electricity to secure the network, tying BTC’s security budget to energy usage. Source: Satoshi Nakamoto 2008 Bitcoin whitepaper; Cambridge Centre for Alternative Finance Cambridge Bitcoin Electricity Consumption Index CBECI. For trading, miner profitability and potential miner-driven BTC supply are highly sensitive to electricity prices because power is a dominant operating expense for industrial miners. Source: Riot Platforms 2023 Form 10-K; Marathon Digital Holdings 2023 Form 10-K; Cambridge Centre for Alternative Finance CBECI. Hashprice a standard metric for miner revenue per unit of hashrate and energy input costs are key to assessing mining margins and potential sell pressure on BTC. Source: Luxor Hashrate Index; Riot Platforms 2023 Form 10-K.