The bitcoin price is often compared to company shares in a way that no other currency or commodity is. Analysis of how both bitcoin and Tesla have performed during in their respective bull runs shows other similarities. Last week, Tesla reported earnings beyond Wall Street expectations, posting its second consecutive quarter of profitability and forecasting it should remain profitable. One U.S. wealth manager has recently said he expects the bitcoin price to soar by almost 50-fold over the next ten years, meaning he thinks one bitcoin will be worth a staggering $400,000 by 2030—giving bitcoin a market capitalization of around $8 trillion. Buying Tesla stock right now might be like buying bitcoin in December 2017 but the valuations given to even surging stock like Tesla are based on something more solid.

Source: Forbes February 05, 2020 11:15 UTC