Home>BUY/SELL>Elon Musk gained’t be the richest particular person if Bitcoin goes above $1M

Elon Musk gained’t be the richest particular person if Bitcoin goes above $1M

Bitcoin (BTC) creator Satoshi Nakamoto is assumed to carry round 1.1 million BTC, price $46 billion at this time. This implies the world’s richest particular person and first trillionaire won’t be Elon Musk if Bitcoin ever reaches the excessive six-figure vary. 

In the meantime, different distinguished Bitcoin holders have also made billions from the rise in BTC worth over the previous 15 years. One of the crucial notable examples is MicroStrategy chairman Michael Saylor, who’s up a whopping $2.6 billion on his Bitcoin funding.

Can a Bitcoin billionaire dethrone Musk? 

So, how excessive would BTC’s worth be for a Bitcoin billionaire similar to Saylor to change into the world’s richest particular person?

MicroStrategy vs. Tesla inventory worth (1-year chart). Supply: TradingView

A number of components have to be thought-about to discover the opportunity of Saylor overtaking Musk because the wealthiest particular person on the planet with Bitcoin costs rising — particularly, Saylor’s complete Bitcoin holdings and Musk’s web price, excluding his personal attainable Bitcoin and (possible) Dogecoin (DOGE) stacks for this theoretical train. 

Associated: Michael Saylor begins selling $216M in MicroStrategy stocks for more Bitcoin

The newest knowledge exhibits that Saylor’s complete Bitcoin holdings quantity to 206,882 BTC (round $9 billion), together with MicroStrategy’s 189,150 BTC and his personal stash of 17,732 BTC, according to Forbes. Musk’s web price, then again, is roughly $219 billion.

To calculate the Bitcoin worth obligatory for Saylor’s web price to surpass Musk’s, we have to discover the worth per Bitcoin that will worth Saylor’s holdings previous $219 billion.

Let’s break down the calculation, which will be accomplished utilizing Cointelegraph’s price calculator:

  1. Saylor’s private Bitcoin holdings: 17,732 BTC
  2. MicroStrategy’s Bitcoin holdings: 189,150 BTC
  3. Complete Bitcoin holdings: 17,732 BTC (private) + 189,150 (firm) = 206,882 BTC  (round $9 billion)
  4. Musk’s web price: round $219 billion

We are able to now calculate the required worth of Bitcoin for this state of affairs.

Seven-figure Bitcoin worth

To surpass Musk’s web price of roughly $219 billion, the worth of a single Bitcoin would wish to succeed in roughly $1,054,000. This can be a substantial 24x improve from present Bitcoin costs, however it might nonetheless align with numerous price predictions. On the similar time, this displays the remaining large hole in web price between the 2 entrepreneurs.

Associated: Ex-BitMEX CEO explains how Bitcoin will have hit $1 million by 2030

It’s essential to notice that this state of affairs is hypothetical and is dependent upon varied components, together with Bitcoin’s market dynamics, Musk’s fluctuating web price (largely tied to his holdings in corporations like Tesla and SpaceX), and Saylor sustaining his Bitcoin holdings.

Moreover, such a dramatic rise in Bitcoin’s worth would possible have far-reaching implications for the cryptocurrency market and international monetary techniques.

This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a call.