In recent years, Bitcoin has evolved into one of the best-performing investment assets in the world, both in the traditional and the digital crypto investment domain. However, Bitcoin's popularity has now enabled analysts to correlate the crypto to mainstream investment stocks, and quite unsurprisingly, Tesla has emerged as one of the largest competitors of Bitcoin. Indeed, the past couple of months have been exceptionally brutal for the crypto market, especially Bitcoin. But as per records, Tesla has been outperforming Bitcoin for the past 5 years. The EV manufacturer has overtaken the flagship cryptocurrency over the last year, and even the ongoing recession has failed to deter Tesla from its course of action.
Reportedly, the electric automaker's revenue took a significant hit in Q2 2022, as it started plummeting in Q1 2022. Despite that, Tesla expects to see an annual growth of over 50% in vehicle deliveries. The drop in both production and delivery can be traced back to Covid lockdowns, however, the month of June has been the company's highest vehicle production month ever. While production appears to not be a concern for Tesla, the rising inflation and interest rates could be Tesla's next big concern. Amid these adverse macroeconomic conditions, the Bitcoin price also took a massive hit, yielding a negative return on investment (ROI) time and again.
Bitcoin and Tesla are more closely related to each other than you might imagine. When Musk adopted Bitcoin in early 2021, it significantly spiked the value of the cryptocurrency, leading the crypto to become one of the most important digital assets in the world. Its recent declination in value has also not affected its dominance in the market. Bitcoin continues to rein other important investment stocks like Amazon, Google, Microsoft, and several others. Hence, it seems like, even though the crypto might be extremely volatile, it has the potential to beat several important investment assets, nevertheless, Elon wins it every time!
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