Bitcoin surpasses Tesla stock’s performance for the first time since 2019

Bitcoin has surpassed Tesla in terms of long-term gains, with its price rising over 1,180% in the past five years compared to Tesla’s stock price increase of 806%, according to data from TradingView. In the shorter term, Bitcoin has outperformed Tesla over the past year, with a 139% increase compared to Tesla’s 11% decrease. Year-to-date, Bitcoin is up 49% while Tesla’s stock price is down 42%. These impressive gains have made Bitcoin the ninth-largest asset globally, with a market capitalization of $1.3 trillion, surpassing companies like Meta Platforms, Berkshire Hathaway, Visa, and JPMorgan Chase. In comparison, Tesla is the 21st largest asset with a market capitalization of $455 billion. Tesla had invested $1.5 billion in Bitcoin in February 2021 but sold 10% of its holdings in March and approximately 75% in the second quarter of 2022. If Tesla had held onto its Bitcoin, it would have made a profit of over $1.27 billion. Currently, Tesla holds 11,509 BTC worth over $766 million. The approval of ten Bitcoin exchange-traded funds (ETFs) in the United States has been a key factor in Bitcoin’s price increase of 60% this year, with the ETFs accumulating over 835,000 BTC worth over $55.1 billion. This article does not provide investment advice, and readers are advised to conduct their own research before making investment decisions.