Comparing the performance of Bitcoin (BTC) and Tesla stock against the U.S. dollar (USD) shows BTC outperforming TSLA since the start of the year by an impressive margin.
Bitcoin Outstrips Tesla by 52 Percent
Looking at the YTD price figures for Bitcoin and TSLA, BTC has outperformed Tesla stock by more than 50 percent. Bitcoin is up 30 percent since the start of the year while TSLA’s continued slide sees its stock price drop 14.9 percent within the same period.
Bitcoin price has been on a hot streak, recording six consecutive weekly price gains while Tesla has been plummeting for close to three months. Analysts believe slide in the company’s share price is due to poor delivery figures from its Model 3 cars.
Commenting on the issue to CNBC, David Tamberrino of Goldman Sachs said:
Altogether, we think the delivery results will put pressure on TSLA’s shares, and corroborates our belief that volume expectations for the company’s products in 2019 are too high with consumer demand likely lower as subsidies phase out in…