London Daily

Focus on the big picture.
Tuesday, Oct 07, 2025

Henry Ford Proposed 'Energy Currency' Similar to Bitcoin 100 Years Ago

Henry Ford Proposed 'Energy Currency' Similar to Bitcoin 100 Years Ago

Way back in 1921, Henry Ford, American industrialist and founder of the Ford Motor Company proposed “energy currency” that could form the basis of a new monetary system — with striking similarities to the peer-to-peer electronic cash system outlined in Satoshi Nakamoto’s 2008 Bitcoin (BTC) whitepaper. 

On December 4, 1921, the New York Tribune published an article outlining Ford’s vision of replacing gold with an ‘energy currency’ that he believed could break the banking elites’ grip on global wealth and put an end to wars. He intended to do this by building “the world’s greatest power plant” and creating a new currency system based on “units of power.”

Ford, was quoted in the article saying:

“Under the energy currency system the standard would be a certain amount of energy exerted for one hour that would be equal to one dollar. It’s simply a case of thinking and calculating in terms different from those laid down to us by the international banking group to which we have grown so accustomed that we think there is no other desirable standard.”

The exact details about the currency values “will be worked out when Congress cares to hear about it,” he told in the article.

Despite Ford never made his vision of a fully-backed currency reality, Bitcoin is quite similar to the idea a century later. Since 2009, more than 18.8 million bitcoins have been created through energy-intensive mining that requires computers to solve increasingly complex math problems.

While the proof-of-work (PoW) mining process has been heavily criticism over its alleged environmental impact, many have argued that it’s short-sighted claim that ignores Bitcoin’s abilily to accelerate the shift to renewable energy.

Replacing gold and ending wars

“The essential evil of gold in its relation to war is the fact that it can be controlled. Break the control and you stop war,” said Ford.

Some of Bitcoin’s biggest supporters argue that the cryptocurrency’s sound money principles could eliminate war by reducing the state’s ability to fund conflict through inflation. While a gold standard makes it harder for governments to inflate their currency, “international bankers,” as Ford explained, controlled the bulk of the bullion supply. This process of controlling and accumulating precious commodities allowed financial elites to create an active market for money, which thrived during wartime.

The gold standard were abandoned in 1971 by U.S. President Richard Nixon, who said his government would temporarily suspend convertibility between dollars and bullion. The so-called quasi-gold standard would only last until 1973. Any links between the dollar to bullion were removed by 1976. It’s worth noting that the British government dropped gold standard in 1931.

The New York Tribune article circulated on Reddit’s r/CryptoCurrency page on Saturday, where it received considerable upvotes. While Satoshi Nakamoto never mentioned Henry Ford in online forum posts, some Reddit users speculated that Bitcoin’s creator may have been influenced by the late industrialist.

Source: Henry Ford Proposed 'Energy Currency' Similar to Bitcoin 100 Years Ago – Fintechs.fi

Newsletter

Related Articles

0:00
0:00
Close
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
×