Tesla's market cap is now worth more than Bitcoin's

Tesla's market cap reached an all-time high, and even beat Bitcoin's market cap value.

@JakConnorTT
Published Tue, Feb 4 2020 6:15 PM CST   |   Updated Tue, Nov 3 2020 11:45 AM CST

Tesla has shaken up the financial market with the company's stock price skyrocketing in comparison to where it was sitting a year ago. Now, the market cap of Tesla has exceeded Bitcoin's.

According to CNBC, Tesla opened at nearly $883 per share, then it hit an all-time high of $968.99 per share, bringing the company's total market cap to above $170 billion. For a helpful comparison to just how big that is, other car companies such as GM and Ford closed out Tuesday with a combined market cap of $85 billion. Tesla is more than double that.

Now a new metric has been thrown into the mix. Tesla's market cap is now larger than Bitcoin's. Yes, Tesla, the automotive and energy company, was worth more than a digital currency (at that period in time). At the time of writing this, Bitcoin's market cap is currently sitting at around $166 billion, according to CoinMarketCap. This means that during Tuesday's high, Tesla's market cap was larger than Bitcoin's, quite an achievement for Mr. Musk and Tesla as a whole.

Tesla's market cap is now worth more than Bitcoin's | TweakTown.com
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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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