Tech mogul Elon Musk is a known advocate of cryptocurrencies and has frequently mentioned top coins like Bitcoin BTC/USD and Dogecoin DOGE/USD on social media.
What happened: Exactly six years ago, the Tesla and Space X CEO made one such reference to Bitcoin on Twitter (now X).
Musk shared a post captioned, “Wanna buy some Bitcoin?” and an image of what appeared to be an anime character in the center of a Bitcoin logo.
At the time of the post, one Bitcoin was valued at $6,475.74. So, if you had heeded Musk's advice and invested $1,000, you would have received 0.1544 units of the cryptocurrency.
As of this writing, the price of one Bitcoin has swelled to $66,757. So, if you had HODLed for all these years, your stash would be worth $10,308.78 today, marking a massive return of 930%.
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Why It Matters: Musk has put his money where his mouth is. His firm Tesla started buying Bitcoin less than three years after he made the aforementioned tweet, with an investment of $1.5 billion.
As of this writing, the company's Bitcoin holdings were reported to be around $771.8 million
Tesla previously accepted Bitcoin as a payment option for vehicles briefly before ending the practice due to concerns about the energy consumption used in Bitcoin mining.
Similarly, SpaceX, the other tech giant spearheaded by him, had around $553 million in Bitcoin on its balance sheet as of this writing, according to on-chain analytics firm Arkham Intelligence.
Price Action: At the time of writing, Bitcoin was exchanging hands at $66,757, down 0.62% in the last 24 hours, according to data from Benzinga Pro.
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