While Beyond Meat Inc. (BYND) has been experienced booming success after going public, stock analysts are also warning that it could be the next bitcoin. The company's second-quarter earnings are due after market close Monday amid heightened attention. 

Beyond Meat, which has a market cap over $13 billion, is one of the biggest companies in the booming “alternative meat” space that has resulted in viral trends like the impossible burger. The company was originally founded in Los Angeles in 2009 and had been privately owned and operated for nearly 10 years. It went public this past May and since has seen its stock value seemingly skyrocket since then.

Beyond Meat went public at $25 and its share price hit a record on Friday at $239.40 — an 840% rise in value. The surge came on the heels of a successful first-quarter report along with new products and partnerships, which included Dunkin’ Brands.

Beyond Meat is the only publicly traded company producing plant-based meat substitutes.  Impossible Foods has remained privately held and made no indication that it would be going public anytime soon.

However, Beyond Meat will soon face competition from companies like Tyson Foods looking to take advantage of the “alternative meat” craze.

Analysts also believe that Beyond may be overvalued due to the company reporting a net loss due to increased spending to meet demand. They point to bitcoin as a perfect example of this.

Bitcoin prices have remained volatile after its bubble seemingly burst in December 2018. The price of bitcoin was valued at $20,000 in December 2017 but has since fallen to half that since then after the cryptocurrency bubble seemingly popped in 2018. While it has experienced a rebound, analysts are still hesitant to jump back on the cryptocurrency's bandwagon.