Tesla surpassed bitcoin by 30% in terms of capitalization.
Tesla's share price has exceeded $ 1,200 - now the company exceeds the market capitalization of bitcoin by 30%.
As a result of this growth, Tesla (TSLA) has reached a market capitalization of more than $ 220 billion. Now the largest electric car manufacturer is worth 30% more than the entire market capitalization of bitcoin (BTC) - the most expensive and popular cryptocurrency in the world.
Tesla overtook Toyota and became the most expensive car manufacturer in the world market. Now it is trying to strengthen its position, and its shares continue to rise. According to the Nasdaq, Tesla officially reached $ 1214, shares rose 8.5%. Analysts mainly attribute the increase in the price of TSLA to the fact that in the II quarter is expected to increase sales of electric vehicles.
Elon Musk, CEO of Tesla, said he was impressed with his company's results. He told his staff in a letter:
It's just amazing how well you coped, especially in such difficult times. I am so proud to work with you!
Mask's positive attitude to the company's success has convinced analysts that the second quarter will be potentially very profitable for Tesla. According to Electrek, the company could supply more than 90,000 cars in the second half of 2020. After the Tesla rally, Wedbush analyst Dan Ives predicted that the company's stock price would reach $ 2,000 in the long run. Other major stocks, such as Apple and Microsoft, have maintained their momentum in recent months, supported by optimism in the US stock market.
Despite the fact that Tesla and bitcoin do not have a price correlation or any common positions, the news about the growth of Tesla shares may say something about the first cryptocurrency.
First, bitcoin is still at a very early stage of its development and has great potential for further growth. Second, the upward trend of stocks, despite the obvious geopolitical and macroeconomic risks, may have a positive impact on risky assets in the third quarter.
This is proof that Bitcoin has a lot of room for growth!