Bless your heart! What a traumatic experience for you. :-( Did your vet give you any kind of a guess as to what happened aside from a heart attack? I suspect the only way to know for certain would involve an autopsy examination, and it's obviously too late for that. I really don't think his death had anything to do with you picking him up. Something major happened inside, and yes, it could have been a blood clot that blocked the flow of blood to a major organ. But again, there's no way of knowing.
Try not to heap a huge guilt trip on yourself. For any dog to live for 16 years shows he had marvelous care his whole life. ACL injuries are difficult to deal with in any dog, much less one of such advanced years. You tried your best to do everything possible for your dog, but time was not on your side. I'm so very sorry for loss, and pray that you find peace and can eventually bring another dog into your life for another 16+ years.
I am very sorry for your loss. Those last moments must have been very difficult for you to witness, but PLEASE do not focus on those last moments when you had 16 wonderful years. Your dog is at peace now and know that you did everything wonderful for him. I wish you peace, comfort and strength during this difficult time.