- Tesla has outperformed Bitcoin and has registered gains of 24.23 percent and 7.53 percent.
BTC (BITCOIN) has been listed among the top five best assets in the last few years according to its performance in both crypto and traditional investment sectors.
Moreover, the price correction has dented the position after being overtaken by globally known electric vehicle manufacturing company Tesla in terms of returns.
Although Bitcoin has been severely affected by crypto winters in the last few years, BTC has registered a negative ROI (Return on Investment) compared to electric vehicle company Tesla at -5.86%.
All-inclusive Tesla has outperformed the flagship cryptocurrency in the last few years and has registered gains of 24.23percent and 7.53 percent.
Furthermore, despite a drop in value, Bitcoin has outperformed other leading technology companies over the last five years. As an example, Bitcoin has 355.22 percent higher returns than Amazon (NASDAQ: AMZN), 321.97 percent higher returns than Google, and 182.65 percent higher returns than Microsoft (NASDAQ: MSFT). Furthermore, Bitcoin has surpassed Apple (NASDAQ: AAPL) by 166.76 percent.
Although the corporation has mentioned in a statement that it had offered a $936 million price of Bitcoin 75 percent of its holding in Q2.
Bitcoin is severely affected and has registered the worst return in the second quarter of this year of -56 percent. The reason behind the losses is that many bitcoins have been sold off.
Although it is observed that market volatility has shaken the crypto industry and has forced many big investors to sell their BTC holdings. And at the beginning of this month, Tesla sold its 75 percent BTC holding. Although the reason stated by the CEO of Tesla, Elon Musk, that the dumping of 75 percent BTC is to maintain cash flow in the company because the financial condition of the firm is not well and the firm is lacking Cash. The cryptocurrency market is believed to show a hike in the upcoming 12 months.
Source: https://www.thecoinrepublic.com/2022/07/30/tesla-becomes-the-only-tech-stock-to-overtop-bitcoin-in-past-five-years/