Topic: Bitcoin Surpasses Tesla, Ranks 11th Globally - page 2. (Read 371 times)

Even if Bitcoin and Tesla were in direct competition with each other, there would be space for both to co-exist. Ethereum is an excellent altcoin, it has contracts and is modelled differently to Bitcoin. The same for USDT or DAI (regardless of 1:1 ratio potential pitfalls) and also XRP, they have their own benefits to bring to the table and all are co-existing.

I suppose if you were an investor with a few thousands to invest, in that case there could be a dilemma about where to invest if you narrowed down your shortlist to just Bitcoin and Tesla 

Nothing crazy here, though i personally feel that it is actually too early to begin to do such a comparison, for there is a high chance that the market cap of tesla will still turnaround to surpass that of bitcoin when the price of bitcoin drops a bit as a means of correction, since i see that the number with which Bitcoin's market cap surpassed that if tesla is not much or significant.

But the Goodnews in this term is that, there is actually no competition between tesla and bitcoin, anybody with a properly working brains would know that in the near future, Bitcoin will be sitting among the top 5 assets with the most market capitalization globally, tesla cannot compete with bitcoin in this regard, this is very certain and not a thing to be surprised about.

Bitcoin is an asset and the price will only increase if demand increases. I don't understand what you mean when you say the price may increase but the user base will shrink, how is that possible? It's true that utility and adoption are important, but if we look at bitcoin as an investment, an asset, and saying price doesn't matter is inaccurate and dishonest.


OP didn't make this comparison, he just pulled the data from another site. This comparison makes no sense because they belong to two different fields. But what they want to emphasize is that bitcoin's development is becoming stronger over time.

But then it will continue to increase again and capitalization may reach $1 trillion or $2 trillion in the upcoming bull season.

1.So what? Market cap doesn't matter to me at all. It's theoretically possible for the BTC price to grow, but the BTC userbase to shrink, leading to a bigger market cap and less adoption. Adoption and utility of BTC are more important than the BTC price.
2.Bitcoin is not a company. Why do you compare it to companies?
3.This 14% price increase won't stay for long. I'm sure that the price will go back below 30K USD and the bear market will continue.
4.Tesla stocks are heavily overpriced. I don't think that Tesla stocks should be used for comparison with other financial assets.

The part that was noticeable for me was that there was an increase in the previous 24hrs (at the time of you creating the post) of over 14%. The price increase has been a welcomed change. As for the comparison with Tesla, well it is valued based upon shares prices and they could move up or down as frantically as crypto but if it is leading Tesla today, maybe Tesla will overtake it tomorrow. I would not look at those comparisons as an indicator for any projections.

What is so crazy about it? It's a very low bar to exceed, a global decentralized currency system should be worth more than an electric car manufacturer, because there will be many electric car companies, but only one cryptocurrency can dominate the market.

Plus Bitcoin already had marketcap over 1 trillion during the previous bull market, so we're not even seeing any record-breaking here.

It's good to see that numbers, but we all know how dynamic it is, maybe in the next bull run, we will be on the top 5. However, when we goes to another long bear market, the rankings are going to dropped for sure.

So let's not take this data religiously, we can't even compare Bitcoin against Tesla though. As obviously we don't have a leader like Tesla did in Elon Musk. And so there are no similarities whatsoever. And just like the last bull run, we've seen this data as well, so it will be a cycle for everyone.

That's not surprising anymore, actually, because it's proven and tested when it comes to long-term investment. Since it started, we haven't seen it decrease with every halving that it has the opportunity to lift the market.

and with every passing year,  the number of investors who believe that this can actually provide profit is increasing, and perhaps one of the reasons is the decentralization that only the holder has control over.

Am even surprised too with the choice of comparison used to depict the growth and market capitalization of Bitcoin since its launch till date.
Am looking forward to the halving and the bull run that follows before I even begin to consider any statistics presented about its market capitalization and asset worth against the dollar, gold, not Tesla obviously.
With the massive adoption of cryptocurrency worldwide, even recent movies now use reference to crypto or Bitcoin because of the fact that it is the future of money, not Tesla that its energy demand may cause a deficiency in materials for its batteries. Am not trying to shade Tesla, but am saying the market capitalization of Bitcoin would be more come next year for very good reasons.

No surprises about that. Tesla's stock has been tanking since the start of this year and it doesn't show any signs of ever stopping til now. I'm not sure as well if this is the year that they sold all their bitcoin holdings or whatever but I'm pretty sure it's this year and that could've contributed to the massive depreciation in value. Also saw some journalistic article talking about how Elon cried like a baby during one of their board meetings talking about the state of the company. I think Tesla's in deep trouble internally and financially. It's as if the world is finally realizing that electric cars would work, autopilot won't, and since Elon's at the forefront of this movement, he's getting the brunt of the work.

You're probably new to Bitcoin. Back in 2021 (during the previous cycle top), Bitcoin had already entered TOP10 stocks by market cap. Next cycle we're likely to see it going back up into TOP10 and perhaps trying to reach the market cap of gold?

Can't tell exactly how I understood your last line. But, I'd say that bitcoin is top one in its category. And also performs well on inter categories of companies or establishments. Bitcoin and Tesla correlation depends on diversity. Tesla is quite not comparable to bitcoin in terms of profits and rewards. But at a risk rate Tesla is a better choice than bitcoin. Hence, a specific set of investors would choose to drop money into tesla than bitcoin. Or vice versa, depending on the fast returns in bitcoin. Tesla could be trading bitcoin and earn profits too. Bitcoin is a fast growing technology, with different potentials. At a 3T market cap, it'll be sharing lots of benefits to investors. Thereby involuntarily boosting the talk on bitcoin in the world. Which relentless publicity, can throw it above other top companies. Though not competitors. And I don't think we should be concerned about those other companies. They're already concerned about bitcoin movement. A lot of work is happening in bitcoin and it's growing real quick. Surpassing already existing companies

.

It's good we are early, but Tesla may have not reached the height bitcoin has attained in market capacity. It all happened due to market violatility. Imagine bitcoin surpass Tesla a world recognized electric car at 34k. If I'm right. You'll see how little Tesla is, not bitcoin. The growth of the technology is enormous, just that people are afraid of volatility. But, it's quite a great investment. And more people are begining to think good of the violatile nature of bitcoin. They're adapting to it. Knowing that it'll definitely pump some day. Provided that people still trades bitcoin. So, the growth of bitcoin will move faster than Tesla. It's just an innovation with very less publicity, acceptance, rejections compared to bitcoin. Tesla, yes, looks like an innovation that can go extinct. Because of the price, difficulty in adapting with charging a car, trusts etc.

The majority of the assets in the rank site are red but not BTC same with gold, silver, and oil.
Bitcoin is always been compared to some other assets but not to Tesla. Usually with Gold. I would however happy to see BTC outrank those big companies. BTC reaching more than $3T in this bull market will really put BTC in the top 2.  

But why should we look at the rank on that site when we should be looking at it on coingecko or CMC.

This shows how small bitcoin still is.

How can a global decentralized money and a store of value compared to digital gold be as small as an electric car company and get an edge over it only because of the recent pump?
I'm sure we are very early here.

I don't like Tesla and I think their products are popular only because there's a global conspiracy to scare people away from using normal cars through taxation and limiting their access to certain areas.
It's only a matter of time before other engines like those that run on hydrogen surpass it and then Tesla will either change or end up like Nokia.

Different asset classes though. It doesn’t really make sense to compare tesla with btc. One is a company which makes cars/batteries etc and the other one is a commodity. Tesla might be gone in 10 years but btc will be with us just like gold and copper. Tesla is also is a very overpriced stock. The investors think tsla is bigger than toyota, vw, mercedes, ford and stellantis combined. That’s obviously a pipe dream which can end any moment. Btc’s real opponent is gold and btc is slowly catching up to it.

I do not care for their rankings and market cap valuation but I appreciate seeing a decentralized asset which the authorities cannot control climbing the top of their rankings. Bitcoin is a game changer and will almost certainly rise to number 1 within the next 20-30 years.

- Jay -

In 2021, bitcoin surpassed 1 trillion market capitalization and also entered into top 10 list so this isn't big compared to that.

Bitcoin’s market cap breaks $1 trillion after tripling in three months

I won't even compare the capitalization of stocks with bitcoin cause the values are only in paper in stocks but bitcoin actually holds the value but both will probably go down when people cash it out.

hahaha good one.
We all know that bitcoin will surpass all those companies. It is just a matter of time.

Doesn't matter if it is at the end 2024 or 2026 at least it doesn't matter in the long run.

At that time some users will regret not buying more sats back then.

When we look at Bitcoin's 2021 ATH Market Cap, we see that it is worth $1.22T. Now, Bitcoin is 50% below the ATH level and the Market Cap is down almost 50%. Everyone states that the new ATH will be above $100k and there is a very strong perception in the market. If we do some simple math, when the Bitcoin price is $100k, the Market Cap is worth $1.91T. If there is no excessive increase in the market capitalization of companies and similar things when Bitcoin ATH takes place, I can say that Bitcoin will easily push the top 3. If everything goes well, this is likely to happen in November 2024. This is not investment advice and you should make your own investments based on your own judgment.

Not crazy at all, you may include the term "as of now" and that's thanks to the recent surge that we've seen. But with bitcoin's volatility, it may changed positively or negatively.

But we're all optimistic that the bull run will be formed soon and that's going to add more market capitalization on it which means that it could go close to the top 5 which is silver and Google (Alphabet).

We've seen it before that during the last bull run, market cap was around $1T+ and that's what it needs to have to surpass Meta and get close to those that I've mentioned.