Bitcoin Outperforms Tesla in Long-Term Gains
Bitcoin (BTC) has surpassed Tesla's (TSLA) stock performance over the past five years.
Tesla, which was among the first publicly traded companies to invest in Bitcoin back in February 2021, missed out on a potential $1.27 billion in profit after selling a significant portion of its BTC holdings in 2022.
Over the last five years, Bitcoin’s price has risen by over 1,180%, outperforming Tesla’s stock, which has increased by over 806%, according to data from TradingView.
In shorter timeframes, Bitcoin’s returns have surpassed TSLA over the past year. Bitcoin rose by 139%, while Tesla’s stock fell over 11% over the past 12 months. Year-to-date, BTC is up by 49%, while Tesla’s stock price is down by 42%.
Bitcoin’s stellar performance this year has made it the world’s ninth-largest asset with a $1.3 trillion market capitalization, larger than Meta Platforms, Berkshire Hathaway, Visa, or JPMorgan Chase.
In comparison, Tesla is the world’s 21st largest asset, with a $455 billion market capitalization, according to Companiesmarketcap.
READ MORE: Early Bitcoin Contributor Reveals Previously Undisclosed Emails with Satoshi Nakamoto
Tesla bought over $1.5 billion worth of BTC in February 2021, around the $36,000 mark. However, Tesla sold around 10% of its holdings in March 2021. Then, the company sold approximately 75% of its Bitcoin reserves in the second quarter of 2022.
Had Tesla not sold, it would have made over $1.27 billion in profit, up over 84% on its initial investment, at current price levels.
Currently, Tesla holds 11,509 BTC worth over $766 million with Coinbase Prime Custody, according to Arkham Intelligence.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
