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Bitcoin's (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) price has finally outperformed Tesla's (TSLA) stock over the past five years in percentage terms. The electronic vehicle manufacturer has also missed out on a potential $1.27 billion in profit after selling a big chunk of its BTC holdings in 2022.
<h2 id="btc-overtakes-tsla-in-long-term-gains">BTC overtakes TSLA in long-term gains</h2>
Over the past five years, Bitcoin's price has risen over 1,180%, while Tesla's stock price has risen over 806%, according to <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> data.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/44191c2e-91f4-4717-a748-877a10338dab.png">
 <figcaption style="text-align: center;">BTC&amp;TSLA, 5-year chart. Source: <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
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Looking at smaller time horizons, Bitcoin’s returns have outperformed TSLA over the past year, in particular. Bitcoin rose 139% while Tesla fell over 11% over the past 12 months, while year-to-date BTC is up 49% while Tesla’s stock price is down 42%.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/b902d095-c20f-45a7-928a-aca76d20da57.png">
 <figcaption style="text-align: center;">BTC&amp;TSLA, YTD-year chart. Source: <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
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Such a stellar year so far for BTC has made it the world’s ninth-largest asset with a $1.3 trillion market capitalization, larger than Meta Platforms, Berkshire Hathway, Visa, or JPMorgan Chase.
In comparison, Tesla is the world’s 21st largest asset, with a $455 billion market capitalization, according to <a href="https://companiesmarketcap.com/assets-by-market-cap/" target="_blank" rel="noopener noreferrer nofollow">Companiesmarketcap</a>.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/5112e4dc-d019-4137-9799-3347ca5d568d.png">
 <figcaption style="text-align: center;">World’s 10 largest assets by market capitalization. Source: <a href="https://companiesmarketcap.com/assets-by-market-cap/" target="_blank" rel="noopener noreferrer nofollow">Companiesmarketcap</a>
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<a href="https://cointelegraph.com/news/tesla-missed-out-300m-profit-bitcoin-sales" rel="noopener noreferrer nofollow">Tesla was among the first</a> publicly traded companies to invest in Bitcoin back in February 2021, when the company bought over $1.5 billion worth of BTC, around the $36,000 mark.
However, Tesla sold around 10% of its holdings in March 2021. Then, the company <a href="https://cointelegraph.com/news/breaking-tesla-sold-75-of-bitcoin-holdings-in-q2" rel="noopener noreferrer nofollow">sold</a> approximately 75% of its Bitcoin reserves in the second quarter of 2022.
Had Tesla not sold, it would have made over $1.27 billion in profit, up over 84% on its initial investment, at current price levels.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/90755f9d-0b16-45c1-9ba3-ea1a87f59fa9.png">
 <figcaption style="text-align: center;">Tesla BTC Balance. Source: <a href="https://platform.arkhamintelligence.com/explorer/entity/tesla" target="_blank" rel="noopener noreferrer nofollow">Arkham Intelligence</a>
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Tesla currently holds 11,509 BTC worth over $766 million with Coinbase Prime Custody, according to <a href="https://platform.arkhamintelligence.com/explorer/entity/tesla" target="_blank" rel="noopener noreferrer nofollow">Arkham Intelligence</a>.
Related: <a href="https://cointelegraph.com/news/bitcoin-price-breaks-65k-btc-flipping-bullish-again" rel="noopener noreferrer nofollow">Bitcoin price breaks above $66K — Has BTC flipped bullish again?</a>
<h2 id="bitcoin-etfs-are-the-main-reason-why-btc-is-winning">Bitcoin ETFs are the main reason why BTC is winning</h2>
The approval of the ten United States spot Bitcoin exchange-traded funds (ETFs) was the main reason behind BTC price rising 60% so far this year, according to Andrey Stoychev, the head of prime brokerage at Nexo. He told Cointelegraph:
<blockquote>
 “U.S. spot Bitcoin ETFs’ role in elevating Bitcoin to a genuine asset class has been invaluable, with pleasing trading volumes and capital flows since launch.”
</blockquote>
The ten Bitcoin ETFs amassed over 835,000 BTC in cumulative on-chain holdings, worth over $55.1 billion, according to <a href="https://dune.com/hildobby/btc-etfs" target="_blank" rel="noopener noreferrer nofollow">Dune</a>.
Related: <a href="https://cointelegraph.com/news/new-bitcoin-whales-etf-unrealized-profit-btc-bottom" rel="noopener noreferrer nofollow">New Bitcoin whales, ETFs are up only 1.6% in unrealized profit — Is the BTC bottom in?</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin outperforms Tesla stock for the first time since 2019

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Cointelegraph

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