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Tesla Better Than Bitcoin? A 50% Increase!

3 min reading

Bitcoin's price (BTC) is heading towards $10,000, noting at the beginning of 2020 a growth of over 30%. Simultaneously, another virtual coin, Tesla, achieved even better results when its shares reached the highest level in its history. Since the beginning of the year, the shares of Elon Muska's company have already increased by 51%.

Bitcoin goes up

The year 2020 has been very successful for the leading world cryptocurrency, Bitcoin (BTC), so far. From the 1st of January, the BTC's price rose from just $7,195 to as much as $9,402. A result like that equals an increase of over 30% in less than a month, making Bitcoin one of the best cryptocurrency assets this year.

Currently, the largest cryptocurrency in terms of capitalization is heading towards $10,000, a level that has not been seen since last year's October. A great number of experts believe that it is real for BTC to achieve such a price and, what is more, even before the halving scheduled for May. Some of the experts are even of the opinion that this year Bitcoin will reach a record level in history (the highest price was slightly over $20,000).

The year 2020 belongs to Tesla and Elon Musk

Although Bitcoin noted a high return on investment, an American automotive giant, Tesla, proved to be the winner in the clash between the two. Results which were better than expected (105 million net profit in the fourth quarter of 2019), optimistic forecasts and media buzz pushed the token's price up and the cryptocurrency exchange's market went crazy.

In contrast to the expectations of many people, the company founded by Elon Musk became the star of the cryptocurrency markets this month, reaching the highest level in its 10-year history today. Currently, Tesla shares cost $643, which is, when compared to $425 on the 2nd of January), an increase of 51%.

Yesterday, the company's quotations began to rise sharply and are rising unceasingly. An increase equals already more than 10%. Interestingly, the company's financial results were published one day before.

Moreover, a week ago Tesla became the first American car manufacturer, whose market capitalization on the exchange exceeded the value of $100 billion. At the moment, the company is valued at over 115 billion dollars, which is more than the German Volskwagen (91 billion dollars) and BMW (43 billion dollars) companies, and more than Ford (10 billion dollars) and General Motors (47 billion dollars) companies combined! The only company which is valued more is Toyota, with a total value of $197 billion.

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