Bitcoin is not "backed by" electricity.

Just to correct you:
To create NEW bitcoin blocks you need electricity and there is already around 18.6 million of BTC in circulation while there is only 2.4 more million to be mined before we hit a hard cap of 21 million.

There doesn't have to be anything backing the BTC. It's fundamentals are enough; the way it works is already better than anything else we previously had as currency.

Also, I am not sure you understand how traditional currency (fiat) is made, what is it based on and backed by either.


As this is in Bitcoin part of forum. I won't comment about PoW and PoS difference and other altcoins which you also mentioned and referred to as "crypto".

Bitcoin is having no relation with fiat other than convertion ratio. Electricity I think is a broad thing to relate with crypto while distinguishing its independence towards fiat. I guess it would be suitable to say that Bitcoin is DIFFERENT from fiat because it is decentralized. Many things, or maybe most of the things will be affected by the means of electricity including media, and other things in this world. Most of the thing works because of this innovation called electricity. It is not only digital currencies which will be affected but almost everything nowadays, I repeat.