The evidence strongly supports the truthfulness of the statement. Multiple independent and credible sources corroborate that Elon Musk described the encryption for X's new messenger as being similar to or inspired by Bitcoin. A news article from TheStreet directly attributes the comparison of the technology to Bitcoin's peer-to-peer model to Musk himself. This is further supported by numerous reports from reputable cryptocurrency news outlets and influencers, including Cointelegraph and Scott Melker ('The Wolf Of All Streets'), who all state that X Chat will feature encryption 'similar to Bitcoin'. One highly relevant source even specifies that Musk made the statement during an interview with Joe Rogan, providing a specific context for the claim. Furthermore, a response from X's own AI, Grok, explains the technical parallels between X Chat's encryption and Bitcoin's network, lending official credence to the comparison. There is no conflicting evidence among the relevant sources provided; all point consistently to the same conclusion.