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

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Bitcoin (BTC) creator Satoshi Nakamoto is assumed to hold around 1.1 million BTC, worth $46 billion today. This means the world’s richest person and first trillionaire might not be Elon Musk if Bitcoin ever reaches the high six-figure range. 

Meanwhile, other prominent Bitcoin holders have also made billions from the rise in the BTC price over the past 15 years. One of the most notable examples is MicroStrategy CEO Michael Saylor, who is up a whopping $2.6 billion on his Bitcoin investment.

Can a Bitcoin billionaire dethrone Elon Musk? 

So, how high would the BTC price be for a Bitcoin billionaire such as Microstrategy CEO, Michael Saylor, to become the world’s richest person?

MicroStrategy vs. Tesla stock price (1-year chart). Source: TradingView

Several factors must be considered to explore the possibility of Michael Saylor overtaking Elon Musk as the wealthiest person in the world with Bitcoin prices rising. Namely, Saylor’s total Bitcoin holdings and Musk’s net worth, and exclude his own possbile Bitcoin and (likely) Dogecoin (DOGE) stacks for this theoretical exercise. 

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

Latest data shows that Michael Saylor’s total Bitcoin holdings amount to 206,882 BTC (~$9 billion), including MicroStrategy’s 189,150 BTC and his own stash of 17,732 BTC, according to Forbes. Elon Musk’s net worth, on the other hand, is approximately $219 billion.

To calculate the Bitcoin price necessary for Saylor’s net worth to surpass Musk’s, we need to find the price per Bitcoin that would value Saylor’s holdings past $219 billion.

Let’s break down the calculation, which you can try with Cointelegraph’s price calculator:

  1. Michael Saylor’s personal Bitcoin holdings: 17,732 BTC
  2. MicroStrategy’s Bitcoin holdings: 189,150 BTC
  3. Total Bitcoin holdings: 17,732 BTC (personal) + 189,150 (company) = 206,882 BTC  (~$9B)
  4. Elon Musk’s net worth: ~$219B

We can now calculate the required price of Bitcoin for this scenario.

Seven-figure Bitcoin price

To surpass Elon Musk’s net worth of approximately $219 billion, the price of a single Bitcoin would need to reach approximately $1,054,000. This is a substantial 24x increase from current Bitcoin prices but it would nevertheless align with numerous price predictions. At the same time, this reflects the remaining big gap in net worth between the two entrepreneurs.

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

It’s important to note that this scenario is hypothetical and depends on various factors, including Bitcoin’s market dynamics, Elon Musk’s fluctuating net worth (largely tied to his holdings in companies like Tesla and SpaceX), and Michael Saylor maintaining his Bitcoin holdings.

Additionally, such a dramatic rise in Bitcoin’s price would likely have far-reaching implications for the cryptocurrency market and global financial systems.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.