Late on 7 August 2025, Elon Musk fired off a single βπβ beneath a Coinbase post on X that showcased an animated, Grok-generated revival of the classic Bitcoin βmagic internet moneyβ wizard. The billionaireβs trademark minimalist reaction was enough to ignite another round of speculation that he remains firmly in Bitcoinβs corner. The Coinbase clip, captioned βGrok Imagine: Bring this legend to life,β turns the pixelated 2013 wizard into a short, neon-blue videoβan unmistakable nod to Bitcoinβs earliest grassroots marketing slogan.
Elon Musk Embraces Bitcoin Again
The meme itself traces back to a contest on r/bitcoin more than a decade ago. In April 2013, subreddit moderators asked users to design an ad that could run in Redditβs sidebar; a hastily drawn MS-Paint wizard riding a gold coin and declaring βmagic internet moneyβ won by popular vote. Despite (or perhaps because of) its crude aesthetic, the image encapsulated BTCβs outsider charm and has since become shorthand for the cryptocurrencyβs defiant irreverence.
Muskβs latest emoji is small but strategic. Over the past month he has repeatedly woven Bitcoin into his political and technological ventures. When unveiling the βAmerica Partyββa nascent political vehicle he has floated as an alternative to the two-party systemβMusk said βFiat is hopeless, so yes,β after being queried if the American Party would βembraceβ Bitcoin. That declaration followed a fresh internal transfer of roughly $150 million in BTC by SpaceX, reinforcing the notion that Muskβs companies remain long-term holders.
Just days before the wizard post, Musk turned to his xAI assistant Grok to interrogate one of the most persistent existential questions: the quantum-computer threat. βBitcoinβs hashing remains secure for now,β Grok replied, assigning βnearly 0%β probability that a quantum machine could crack SHA-256 within five years and βunder 10% by 2035β given current qubit road-maps.
In another example of Muskβs recurring BTC references, June saw the announcement of βXChat,β a new messaging feature on his social media platform X (formerly Twitter). Musk revealed that the system is built on Rust and incorporates βBitcoin-styleβ encryption, a choice he framed as a commitment to security and decentralization principles long associated with the cryptocurrency.
Muskβs public statements have rarely moved markets as violently as they did during the 2021β2022 bull run, yet his influence endures. Tesla still lists more than 10,725 BTC on its balance sheet, and SpaceX is believed to hold a further nine-figure stash. Against that backdrop, even a laughing-crying emoji reads as tacit endorsementβespecially when it revives a relic of BTCβs anarchic infancy.
At press time, BTC traded at $116,560.
Featured image created with DALL.E, chart from TradingView.com
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