• Tesla (TSLA) stock has recovered by almost 25% since Jan. 6, while Bitcoin (BTC) is up 16% in 2023.
• Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin is playing catch-up with Tesla.
• Despite CEO Elon Musk making history with his personal wealth losses, both Bitcoin and Tesla are eyeing potential for growth amidst declining inflation in the United States and a surge in the price of safe-haven gold.
The start of the year has been a tale of two assets for Bitcoin (BTC) and Tesla (TSLA). Data from Cointelegraph Markets Pro and TradingView shows that both assets have seen significant gains, but that Tesla has been able to stage a much stronger rebound than Bitcoin.
Tesla has been in the news since the start of 2022 for its rapid rise to prominence and its corresponding stock price gains. Despite CEO Elon Musk famously taking a hit to his personal wealth due to the stock’s losses, Tesla has been able to recover by almost 25% since Jan. 6. This resurgence can be attributed to the atmosphere of declining inflation in the United States, as well as a surge in the price of safe-haven gold.
Meanwhile, Bitcoin has seen gains of 16% this year, but this is still relatively small in comparison to Tesla’s gains. Bitcoin saw losses of nearly 65% last year, and is now trying to make up for lost time. It has begun the year with a dip below $16,500, but is slowly regaining its strength.
It is clear that Bitcoin and Tesla are both poised for growth in the coming months, and both assets are competing for the attention of investors. However, it appears that Tesla is currently winning the race, with its stock price gains far outstripping those of Bitcoin. This could all change in the near future, and only time will tell which asset will come out on top.