KEY POINTS

  • Tesla performed better than BTC with a stock price appreciation of 52 percent
  • BTC is up in January by 31 percent
  • Tesla's Q4 performance boosted its stock price to all-time high

Bitcoin (BTC) might be the investment of the past decade, but Palo Alto, California-based automaker Tesla, so far, is the better investment between the two in 2020.

Up by more than 31 percent, the granddaddy of cryptos is stellar in January, especially when considering that the only bullish month for BTC was October in the six months prior. But pitted against Tesla, BTC falls short. The American automotive company was clearly the better performing asset as it is currently outpacing Bitcoin with a 52 percent price appreciation.

Former analyst for eToro Mati Greenspan first made the comparison on Wednesday, but at that time, Tesla was only trading at $580, so it was slightly ahead of Bitcoin at 38 percent, but Thursday's trading boosted the stock to close at $640.81. And, even if BTC finishes this month at $10,000, a 40 percent gain still pales in comparison to Tesla.

Tesla's fourth-quarter of 2019 performance posted profits for the company that beat Wall Street's earnings per share estimates, and it is the second consecutive month that the automaker comes through for investors. Despite the company still recording a net loss for the whole year, the stock even surged to its all-time high.

For most analysts, settling at or near $10,000 isn't what they see in BTC, particularly with the halving coming up. Bulls have pushed the most popular cryptocurrency to break out of a downward channel that extends from its June 2019 high and close above the 200-day moving average on Tuesday. If further bullish momentum continues, the death cross seen in October last year could be reversed and see both shorter and longer-term moving averages intersect and form a golden cross.

Still, in the 30 days that passed, BTC is unmatched by Tesla unless the crypto skyrockets above $11,000 on Friday. On the other hand, there's no need to look further than the second most popular crypto for another digital asset that's performing much better than BTC. ETH is up at a much better rate than the king of cryptos, with 42 percent. 

If it's a clear outlier that crypto fans are searching for this month, then Bitcoin SV's 200 percent acceleration this month might suit them.

bitcoin_large 2018 hasn't been so kind to bitcoin. Photo: GETTY IMAGES.