finbold.com
11 March 2024 14:49, UTC
As Bitcoin ($BTC) continues to shatter records, reaching new all-time highs—most recently hitting $72,000 when writing—many traders and investors are reconsidering their choices to explore other investments or withdraw from the leading cryptocurrency.
However, Elon Musk might be feeling the sting of regret, particularly in light of 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.
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This indicates that 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.
Based on the latest information, Elon Musk’s net worth is $195 billion. If he had made this investment, it would solidify his position as the world’s richest man, with a total wealth exceeding $350 billion, far surpassing Bernard Arnault, currently the world’s richest man.
According to the on-chain intelligence platform Arkham, blockchain investigators claim to have discovered the Bitcoin wallets belonging to Elon Musk’s companies, Tesla (NASDAQ: TSLA) and SpaceX, revealing a combined holding of nearly $1.5 billion.
The analysis indicates that Tesla’s wallets hold more than $833 million worth of Bitcoin, while SpaceX’s wallets contain around $600 million in $BTC.
The report also examines the history of Bitcoin transactions in both companies since early 2021. It highlights that during the cryptocurrency crash of May 2022, both Tesla and SpaceX sold off a substantial portion of their Bitcoin holdings as prices dropped. While these sales led to a net loss for SpaceX, 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 Teslas’ $BTC holdings, according to Arkham’s estimates.
This fact may be a consolation for Musk, considering the amount he missed out on due to investing in X.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
