After massive gains – Tesla’s stock price now looks just like bitcoin’s mega rally in 2017
Feb 04, 2020
Bitcoin is the world’s biggest cryptocurrency – but nowhere near as large as it was at the end of 2017. At that time, the cryptocurrency traded for just over $20,000, more than twice the current price of about $9,200.
The high bitcoin price at the end of 2017 was the result of abull market that took the cryptocurrency from price levels of $1,000 to the record listing in less than six months.
Now it seems that a certain stock is making a similar journey, Cointelegraph reports.
The stock price follows bitcoin’s greatest year
The company? Tesla. The stock price of the Elon Musk-led electric car manufacturer has gone from below $200 in June to trading for about $780 as of today.
The comparison was first made by crypto investor Mike Novogratz, who on Monday tweeted out a chart that puts the two price developments side by side.