Billionaire entrepreneur Elon Musk has once again sparked a global debate by questioning the very idea of money as economic power. According to Musk, people often misunderstand the economy by equating it with money, bank balances, or even cryptocurrencies like Bitcoin. In his view, the real strength of any economy lies in goods, services, and human labour, not in currency or digital assets.

“Money Is Just Data, Not Real Power”

Speaking in April 2022 during a conversation with Axel Springer CEO Matthias Döpfner on the WELT Documentary channel, Musk said that treating money as the economy is a “fundamental mistake.” He explained that money is essentially a database used to track transactions and has no intrinsic value of its own.

According to Musk, money is only a tool to exchange labour and services across time. If essential goods and services are unavailable, money itself becomes meaningless.

Why Musk Calls Swiss Accounts and Bitcoin ‘Useless’

To explain his point, Musk gave a striking example. He said that if someone were stranded on a deserted island with a trillion dollars in a Swiss bank account, that money would be completely useless. In such a situation, a simple can of soup would hold far more value.

He extended this logic to cryptocurrencies as well. Musk argued that even if the entire world owned Bitcoin, people would still starve if food, shelter, electricity, and other basic necessities were not available. According to him, the real economy is built on physical reality, not financial symbols.

Labour Is the Real Limiting Factor

Musk believes that the true bottleneck of any economy is labour. The production of goods and services depends on human effort. If this constraint were removed, the traditional idea of scarcity would change entirely.

He suggests that in a future where basic goods are abundant, humans may intentionally make certain things scarce, such as unique art, luxury experiences, or exclusive creations.

The Future Economy: Work May Become Optional

Looking ahead, Musk is highly optimistic. He believes that within the next 10 to 20 years, advances in artificial intelligence and robotics will largely eliminate labour shortages. In multiple statements, including one in October 2025, Musk predicted that AI and robots could eventually replace most human jobs.

According to him, this shift could make work optional rather than necessary. Essentials like healthcare, housing, and income may become easily accessible, reducing the need for people to save money for survival or retirement. Musk envisions a future where billions of robots produce goods and provide services at extremely low or near-zero cost.

A Thought-Provoking View on Wealth

Elon Musk’s comments challenge traditional ideas about wealth and economic power. His central message is clear: money, bank accounts, and even Bitcoin have no value without real-world production. Food, energy, housing, services, and human creativity are what truly keep an economy alive.