Bitcoin is regarded by many as the world’s top performing asset class, but the king of crypto might have an unexpected competitor in the face of Tesla stock (TSLA), as is market cap breaks $100 billion today.
Tesla Becomes First Publicly Listed US Carmaker to Cross $100B Mark
On Wednesday, the share price of Tesla enjoyed another significant rally amid a general bullishness in the US stock market. The stock has gained over 8% since the opening of the session, with the market capitalization crossing the $100 billion mark for the first time in its 17 years history. Thus, Elon Musk’s company became the first publicly traded American carmaker to cross that line, currently fluctuating at around $103 billion.
Tesla stock, listed on NASDAQ with the ticker TSLA, is trading at $592.11 right now, and it’s still surging. The share price started the year at $430, suggesting that the year-to-date return is over 35%. For comparison, Bitcoin has increased by 20% for the same period.
Now Tesla is valued more than Ford and General Motors combined. The company has already surpassed Volkswagen as the second-largest carmaker by market capitalization in the world. The next target is Toyota, which is by far the largest auto manufacturer, with a market value slightly over $200 billion. But, according to a Wall Street analyst, that is achievable in the coming years.
Pierre Ferragu of New Street Research said that Tesla’s price target for the next 12 months is $800. By 2025, Tesla might become the largest carmaker in the world. The company will be able to deliver up to 3 million cars per year during the next five years, which help its stock surge to $1,100 or even $1,700. This suggests a market cap between $250 and $530 billion.
Can Bitcoin Keep the Pace?
Tesla’s rally began in June last year, while Bitcoin started in the spring. In the last six months, Musk’s company has gained over 130%, while Bitcoin has a negative return. For 2019 as a whole, Bitcoin almost doubled, while Tesla gained over 40%.
However, TSLA seems to be on fire right now and can update the peaks amid ongoing optimism. The market values of both assets are also comparable, with Bitcoin’s total capitalization keeping above $150 billion.
Last week, we reported that ARK Invest CEO Cathie Wood voiced a bold prediction for Tesla, anticipating the stock price to surge to $6,000 in the next five years, which will make it a trillion-dollar giant. In this scenario, Bitcoin might lose the competition if it doesn’t stick to the price-performance predicted in the stock-to-flow model, which sees the asset breaking 6 figures in the near future.
It remains to be seen whether Wood’s scenario will work, but the certain thing is that the race between these assets will be interesting to watch over the next 5 years.
Do you think Tesla will perform better than Bitcoin? Share your thoughts in the comments section!
Image via Shutterstock The post appeared first on Bitcoinist.com. origin »
Tesla's Bitcoin holdings surged by $600 million, reflecting new accounting rule benefits.
Tesla's net income growth highlights strong financial resilience.
Tesla's latest earnings reThe post Here’s how Tesla’s 11,509 Bitcoin holdings affected Q4 profits appeared first on AMBCrypto.
Bitcoin’s price surge helped Tesla mask deeper struggles, adding $600M to its earnings. But behind the numbers, falling demand, price cuts, and squeezed margins tell a different story. Bitcoin, the saviour Tesla’s latest earnings report on Jan. 29 was widely…
Tesla’s recent Bitcoin transfer to unknown wallets fuels speculation of a potential sell-off.
Musk’s public support for Trump adds intrigue to Tesla's crypto moves.
Elon Musk’s Tesla, The post Tesla moves $760 million Bitcoin: Does this transfer involve Donald Trump? appeared first on AMBCrypto.
Bitcoin’s move higher makes its market capitalization bigger than that of Wall Street stalwarts, including Elon Musk’s electric carmaker Tesla, and American payment provider Visa.
Tesla's latest quarterly results affirmed that the company neither acquired nor divested any Bitcoin during this period.
Tesla stated that it had “more than doubled the size” of its computiThe post Tesla maintains $184 mln Bitcoin holdings: Q3 report appeared first on AMBCrypto.
Tesla's Q2, 2023, financial report unveils static cryptocurrency landscape, with no new Bitcoin transactions and consistent digital asset value of $184 million
Tesla’s Q1 update has revealed that it is holding onto its $321 million worth of bitcoin. This marks the third consecutive quarter that Tesla has kept its crypto holdings the same, purportedly due to the company’s decision not to buy…
Tesla, the biggest electric vehicles car manufacturer, has stated in the latest filing with the Securities and Exchanges Commission that they have sold no bitcoin and they may start accepting...
Elon Musk, Tesla’s CEO, has hinted in a reply on a Twitter post that the company might own close to 42k Bitcoin. Elon Musk Hints Tesla Owns Around 42k Bitcoin Tesla shareholder Dave Lee has run a rough calculation on Twitter to show how many BTC the company owns. In his estimation, Lee has used […]
Earlier this year, Tesla announced its plans to accept Bitcoin as a payment method for its products. However, Tesla CEO Elon Musk has reversed this decision, and Tesla has discontinued accepting Bitcoin, citing environmental reasons.
Tesla CEO Elon Musk tweeted earlier this Sunday that the electric carmaker would resume its Bitcoin transactions once verified crypto mining operations utilise more renewable energy. “When there’s confirmation of reasonable (~50 percent) clean energy usage by miners with [a] positive future trend, Tesla will resume allowing Bitcoin transactions,” he wrote. This is inaccurate. Tesla […]
Amid the prolonged downward trajectory of the broader crypto market, old speculation with respect to Tesla and Bitcoin has resurfaced. Right after sparking another sell-off in the world's largest crypThe post What is (Elon Musk and) Tesla's Bitcoin strategy and its impact appeared first on AMBCrypto.
Last week, cryptocurrency users watched the market decline severely after Elon Musk announced that Tesla has shut down Bitcoin payments in the meantime, until “mining transitions to more sustainable energy.
On Feb. 8 Tesla (NASDAQ:TSLA) purchased $1. 5 billion worth of Bitcoin as part of a move to include the digital currency in its balance sheet and accept Bitcoin from Tesla customers. This sparked huge interest in blockchain as a whole, and BTC raised its value by 20%.
In an attempt to debunk rumors about Tesla selling its bitcoin holdings, Elon Musk clarified that the company was still holding bitcoin. Tesla Still Holding Bitcoin Tesla CEO and SpaceX founder Elon Musk, has stated that Tesla has not sold any of its bitcoins.
Amid speculation over the weekend that Tesla may have sold its bitcoins, CEO Elon Musk has clarified that the electric car company “has not sold any bitcoin.” The Technoking of Tesla got into a heated debate with the bitcoin community Sunday after he announced that Tesla has suspended accepting bitcoin for payments due to environmental […]
A number of Cybertruck customers have reportedly canceled their preorders following Tesla’s announcement it would no longer accept Bitcoin. Tesla CEO Elon Musk posted a statement saying the firm has concerns over the rising use of fossil fuels in Bitcoin mining.
Automotive company Tesla has suspended the use of bitcoin to purchase its vehicles, Chief Executive Officer Elon Musk said in a tweet on Wednesday, citing the vast amounts of electricity needed to “mine” the cryptocurrency.
In honor of the upcoming Bitcoin Pizza Day on May 22nd, and inspired by Tesla CEO Elon Musk’s recent crypto investment, YouHodler is giving away one brand new Tesla Model Y to one lucky client for just $1,000.
Tesla is now running bitcoin nodes and “internal and open source software” to accept bitcoin for payments according to Elon Musk, Tesla’s CEO. “You can now buy a Tesla with...
Bitcoin (BTC) price has soared above $55k after Tesla CEO Elon Musk announced that…
The post Bitcoin rebounds above $55k as Tesla starts accepting BTC appeared first on Coin Journal.
Residents in the continental United States can now buy a brand-new Tesla using Bitcoin, an update from the world’s leading automaker on Mar 24 confirms. Buy Tesla using Bitcoin What’s more, Tesla is keen on holding on to BTC and won’t partner with a payment processor but instead keep the coin for themselves. In aRead More
Car maker Tesla has now enabled the purchase of Tesla car models with Bitcoin (BTC). The company’s founder and Chief Executive Officer, Elon Musk, made this known in a tweet on Wednesday saying, “You can now buy a Tesla with Bitcoin.
A few weeks after Tesla sent ripples across the crypto-community with its $1.5 billion investment in Bitcoin, the electronic car manufacturer is in the news again today after the company officially opThe post Tesla launches much-awaited Bitcoin payment option appeared first on AMBCrypto.
Offering a fresh perspective on Tesla's Bitcoin investment strategy, Daniel Ives, Managing Director and Senior Equity Research Analyst at Wedbush Securities thinks that Tesla would “double down on The post Why companies will mirror Tesla's bitcoin strategy appeared first on AMBCrypto.
Shares of Tesla (NASDAQ: TSLA) are trading over 7% higher in February after attracting attention of the crypto community following the purchase of $1. 5 billion in Bitcoin. Fundamental analysis: BTC investment ‘positive for the stock’ Tesla also announced it will start accepting crypto payments, according to the carmaker’s filing with the U.
On Monday, Feb 8, Tesla surprised the crypto community by announcing a bitcoin (BTC) purchase to the tune of $1. 5 billion. The leading cryptocurrency immediately broke its all-time high (ATH) and soared above $42,000.
Mad Money host Jim Cramer has applauded Elon Musk and Tesla for their bitcoin investment. He said that Tesla, Paypal, and Mastercard are pushing bitcoin more into the mainstream. He believes that more companies should do more with their cash as Tesla did.
In light of Tesla’s $1. 5 billion purchase of Bitcoin, market bullishness is at a fever pitch. In fact, right now, many anticipate that corporate treasurers worldwide will follow Tesla's lead and takThe post Why did Tesla allocate only 7.
The Bitcoin network is now the ninth most valuable asset globally, overtaking Tesla–the world’s leading electric automotive company, new statistics on Feb 9 reveal. BTC/USD Rise Above $48k, Flips Tesla’s Valuation As of writing, the BTC/USD price was trading above $45k after momentarily surging to over $48k in the early Asian session. The Bitcoin networkRead More
After Elon Musk’s Tesla decided to invest $1.5 billion into the digital asset, Bitcoin’s registered a new high above $44,000. Perhaps Tesla’s investment policy could further the asset’s narratThe post Tesla, Bitcoin effect: Would Apple benefit by jumping on the crypto bandwagon? appeared first on AMBCrypto.
Shares of Tesla (NASDAQ: TSLA) are trading about 2% higher today after the electric car maker announced it invested $1. 5 billion in Bitcoin (BTC). Fundamental analysis: A “major move” by Tesla In the hottest story of the day, Tesla said it has bought $1.
Bitcoin is nearing $44,000 after Tesla disclosed a $1.5 billion purchase in a filing with the Securities and Exchanges Commission. “In January 2021, we updated our investment policy to provide...
Bitcoin’s price surge helped Tesla mask deeper struggles, adding $600M to its earnings. But behind the numbers, falling demand, price cuts, and squeezed margins tell a different story. Bitcoin, the saviour Tesla’s latest earnings report on Jan. 29 was widely…
Elon Musk’s electric car manufacturer, Tesla, reported a $600 million net paper gain on its Bitcoin holdings in the fourth quarter of 2024 after taking advantage of a new accounting rule that allows companies to value digital assets at current market prices each quarter.
Tesla’s Bitcoin bet is paying off in a big way. The electric vehicle giant reported a $600 million unrealized gain on its Bitcoin holdings in Q4 2024, thanks to a new accounting rule update that allows companies to reflect fair market value for their crypto assets.
The Dogecoin price is at a critical juncture as a crypto analyst has pinpointed key price levels that could dictate its next significant move upwards. With the number one meme coin currently trading above $0.
Major North American Bitcoin (BTC) mining company Hut 8 has further expanded its BTC holdings with a $100 million acquisition. This latest purchase has pushed the company’s total reserves to over 10,096 BTC, valued at more than $1 billion at current market prices.
]Что, если Amazon решит вложить свои миллиарды в Биткоин? Звучит любопытно. Именно этого требуют акционеры компании, предлагая инвестировать 5% активов в криптовалюту. По мнению акционеров, компания должна последовать примеру Tesla и MicroStrategy, чтобы защититься от инфляции и сделать излишки средств более полезными.
Тим Кук, глава Apple, признался, что уже три года держит Bitcoin в своем личном инвестиционном портфеле. Но тут есть важный момент: это его личное дело, и к Apple это никак не относится. В недавнем интервью он четко заявил: Apple не планирует внедрять криптовалюты ни в платежные системы, ни в рамках корпоративных инвестиций.