An alternative sledgehammer route is via the Lambert $W$ function, on both the principal branch $W_0$ and the other real branch $W_{-1}$.
$$
\log_2 x = \sqrt{x}
$$
$$
2\log_2 \sqrt{x} = \sqrt{x}
$$
$$
2\frac{\ln \sqrt{x}}{\ln 2} = \sqrt{x}
$$
$$
\ln \sqrt{x} = \left(\frac12 \ln 2\right) \sqrt{x}
$$
$$
\sqrt{x} = e^{\left(\frac12 \ln 2\right) \sqrt{x}}
$$
$$
\sqrt{x} e^{\left(-\frac12 \ln 2\right) \sqrt{x}} = 1
$$
$$
\sqrt{x} e^{\left(\frac12 \ln \frac12\right) \sqrt{x}} = 1
$$
$$
\left(\frac12 \ln \frac12\right) \sqrt{x} e^{\left(\frac12 \ln \frac12\right) \sqrt{x}} = \left(\frac12 \ln \frac12\right)
$$
$$
\left(\frac12 \ln \frac12\right) \sqrt{x} = W \left(\frac12 \ln \frac12\right)
$$
$$
x = \left[ \frac{W \left(\frac12 \ln \frac12\right)}{\frac12 \ln \frac12} \right]^2
$$
(There's probably a faster way to get there, but I'm not the best Lambert manipulator.) Fortunately, we have an identity: When $z \geq 1/e, W_0(z \ln z) = \ln z$, so the principal branch $W(z) = W_0(z)$ gives us
$$
x = \left[ \frac{\ln \frac12}{\frac12 \ln \frac12} \right]^2 = 2^2 = 4
$$
What about the other value? That comes from the other branch, for which there is a corresponding identity: When $0 < z \leq 1/e, W_{-1}(z \ln z) = \ln z$. This would seem difficult to apply to the current equation, since $1/2 > 1/e$. However, note that we have the equality
$$
\frac12 \ln \frac12 = \frac14 \ln \frac14
$$
so we can now also obtain, from $W(z) = W_{-1}(z)$,
$$
x = \left[ \frac{W \left(\frac14 \ln \frac14\right)}{\frac14 \ln \frac14} \right]^2
$$
$$
x = \left[ \frac{\ln \frac14}{\frac14 \ln \frac14} \right]^2 = 4^2 = 16
$$
as desired.
To be sure, there's a certain unsatisfying roundabout-ness to this approach, but it's another way of tackling it.
$\log_2 x$
yields the nicer-looking $\log_2 x$. For future reference! :-) $\endgroup$