Bitcoin - a decentralised digital currency

[Janx Spirit 7,530]

"Tesla And Bitcoin Have More In Common Than You Think"

 

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At first glance, Tesla TSLA and Bitcoin may appear to be completely different technologies with distinct users, use cases, and investors. Tesla is the amalgamation of car manufacturing, alternative energy, computer software, and artificial intelligence. The company plans on combining these disciplines to launch a fleet of autonomous robotaxis in the not too distant future. Bitcoin is a decentralized asset promising to reboot the global financial and monetary system.

 

In short, Tesla is revolutionizing transportation and energy, whilst Bitcoin is revolutionizing money and finance. Tesla has an enigmatic, polarizing, charismatic leader in Elon Musk who is often prone to gaffs. However, Bitcoin derives much of its value from having no leading figure or central point of failure.  

 

Despite these obvious differences, the two assets have been amongst the best performing assets this year, often moving together in lockstep. At time of writing, Tesla has appreciated 72% and Bitcoin 23% year-to-date, compared to a decline of 13% for the S&P 500 year-to-date.

 

Forbes