Did Henry Ford predict Bitcoin 103 years ago? Understand the theory

Source: PortaldoBitcoin Original Title: Did Henry Ford Predict Bitcoin 103 Years Ago? Understand the Theory Original Link: https://portaldobitcoin.uol.com.br/henry-ford-previu-o-bitcoin-ha-103-anos-entenda-a-teoria/ Henry Ford, founder of Ford Motor Company, may have envisioned Bitcoin 103 years ago. This is what the crypto community has been saying with the emergence of a 1921 newspaper clipping in which the businessman talks about replacing gold with an “energy-based currency” as a way to structure a new global economy and even reduce international conflicts.

The old article, published in the New York Tribune, highlights Ford’s proposal to create a monetary system backed by energy, not by precious metal. The headline states that “Ford would replace gold with energy currency and end wars,” suggesting that energy resources could serve as the foundation for a new kind of global wealth.

According to the newspaper text from that time, Ford believed that the value of currency could be tied to energy production, creating a sort of “energy standard” to replace the gold standard. The idea envisioned a system where wealth would be associated with the capacity to generate electricity, not with the accumulation of rare metals.

Just like Ford’s idea, Bitcoin also establishes a direct relationship between energy and value. On the network created by Satoshi Nakamoto, new blocks can only be added through a process called proof of work (Proof of Work), in which miners compete to solve cryptographic calculations that require a large amount of electricity. This energy expenditure is precisely what prevents attacks on the network, making it extremely costly to forge information or reverse transactions.

This conversion of energy into security is seen by many experts as the main economic foundation of Bitcoin. The greater the aggregate energy consumption by the network, the higher the so-called hashrate, an indicator that measures the miners’ global computational power. A higher hashrate means a network more resistant to attacks and, therefore, more reliable.

Elon Musk Echoes Ford

The theory returned to the spotlight recently after statements by Elon Musk, who supports the same logic: in his view, Bitcoin’s value derives precisely from the energy required to mine it.

In an interview with influencer Nikhil Kamath, published on the 30th, Musk reaffirmed his view that energy is humanity’s most basic economic foundation:

“Energy is the true currency. That’s why Bitcoin has energy as its base. You can’t legislate energy, you can’t sign a law and create a bunch of energy. It’s hard to create energy.”

The businessman, who leads companies like Tesla and SpaceX, went further and made a prediction about the future of money: “We probably won’t have money and will have only energy as the current currency.”