On October 27, 2022, Elon Musk completed his $44 billion acquisition of Twitter. He walked into the building carrying a sink, tweeted "let that sink in," and became the owner of one of the most consequential, and expensive, platforms in media history.
Twitter, now rebranded as X, has had a turbulent run since. Fidelity marked its value down by as much as 79 percent at one point.
It has since recovered, with the platform broadly valued back around $44 billion following improved financials and returning advertisers. In other words, after two and a half years, Musk is roughly where he started.
So here is the question: what if he had split that $44 billion between Bitcoin and gold instead?
At $22 billion allocated to Bitcoin on the day the Twitter deal closed, Musk could have bought approximately 1.1 million BTC at the prevailing price of roughly $20,000 per coin. Bitcoin was deep in a bear market at the time, the FTX collapse was days away and sentiment could not have been worse.
Twitter, now rebranded as X, has had a turbulent run since. Fidelity marked its value down by as much as 79 percent at one point.
It has since recovered, with the platform broadly valued back around $44 billion following improved financials and returning advertisers. In other words, after two and a half years, Musk is roughly where he started.
So here is the question: what if he had split that $44 billion between Bitcoin and gold instead?
At $22 billion allocated to Bitcoin on the day the Twitter deal closed, Musk could have bought approximately 1.1 million BTC at the prevailing price of roughly $20,000 per coin. Bitcoin was deep in a bear market at the time, the FTX collapse was days away and sentiment could not have been worse.
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