Elon Musk’s Missed Bitcoin Investment Opportunity: What Could Have Been
As Bitcoin (BTC) continues to break records and reach new all-time highs, it’s natural for traders and investors to consider their choices. Many are exploring alternative investments or even withdrawing from the leading cryptocurrency. However, Elon Musk may be feeling a tinge of regret, especially considering his decision to purchase X (formerly Twitter) instead of investing in BTC. At the time of Twitter’s acquisition, Bitcoin was valued at $20,268 per coin.
How Much Would Elon Musk Have if He Invested in Bitcoin?
If Musk had chosen to invest his $44 billion in Bitcoin instead, his investment would have surged by 274%, resulting in a current value of approximately $164.56 billion. This means that Musk’s net worth would be $350 billion, solidifying his position as the world’s richest man, surpassing Bernard Arnault.
Tesla and SpaceX Still Hold Some Bitcoin
According to the on-chain intelligence platform Arkham, investigators claim to have discovered the Bitcoin wallets belonging to Elon Musk’s companies, Tesla (NASDAQ: TSLA) and SpaceX. The analysis reveals a combined holding of nearly $1.5 billion.
- Tesla’s wallets hold more than $833 million worth of Bitcoin.
- SpaceX’s wallets contain around $600 million in BTC.
The report also delves into the history of Bitcoin transactions within both companies since early 2021. It highlights that during the cryptocurrency crash of May 2022, both Tesla and SpaceX sold off a significant portion of their Bitcoin holdings as prices dropped. While SpaceX incurred a net loss, Tesla managed to break even.
However, SpaceX’s Bitcoin position rebounded by November 2023, coinciding with the ongoing Bitcoin bull run. Since then, the price of Bitcoin has nearly doubled, resulting in a profit on SpaceX’s and Tesla’s BTC holdings, according to Arkham’s estimates.
Considering the amount he missed out on due to investing in X, this fact may provide some consolation for Musk.
Hot Take: Elon Musk’s Regretful Missed Opportunity
If Elon Musk had chosen to invest in Bitcoin instead of purchasing X, his net worth would have skyrocketed to $350 billion, making him the world’s richest man. However, his decision to buy X instead of investing in BTC cost him approximately $164.56 billion. While Tesla and SpaceX still hold a significant amount of Bitcoin, it’s undeniable that Musk could have significantly increased his wealth if he had chosen differently.
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