Tesla is now larger than the entire Bitcoin network
1 min readTesla again has a market capitalization of over $ 140 billion. The company’s shares are now in the green and are trading at $ 754. By contrast, the market capitalization of the entire Bitcoin network is currently below 130 billion. Electric cars seem to have a future, especially now, at a time of high uncertainty over the oil industry.
Market capitalization of Tesla has surpassed Bitcoin
Electric cars are pulling. Nevertheless, the crisis hit the first few days, especially on them. Tesla fell to $ 350 per share. The company’s shares are far from inviolable.
As you can see, the carmaker has more than doubled its price. Bitcoin had such a big problem with such a performance and at the time of writing the article is around 6800 US dollars.
But Bitcoin investor Tuur Demeester thinks Tesla’s shareholders should not exaggerate with the celebrations. Price seems to him out of reality. Tesla is bringing to mind Bitcoin.
Even if you're a $TSLA bull, isn't a $140B market cap (higher than Bitcoin!) a bit over the top? Huge amounts of risk appear to not be discounted: low car demand, supply chain disruption, permanently low oil price, … pic.twitter.com/TvXlmMjAWw
— Tuur Demeester (@TuurDemeester) April 20, 2020
It is true that Tesla’s incredible power is all too reminiscent of Bitcoin at the end of 2017.
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