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Bitcoin’s market value will surpass Tesla in 2021, predicts analyst

Currently the market capitalization of Bitcoin is only less than 11 companies.

Bitcoin’s market capitalization will surpass Tesla giant in June 2021, said Galaxy Digital’s CEO Mike Novogratz. The head of the digital asset management company has published a text on Twitter explaining why he believes the market capitalisation of digital currency will outperform Tesla in the next 6 months.

According to the manager, Tesla has a risk, Elson Musk, while Bitcoin is managed by a worldwide community.

„Bitcoin will have a higher market value than Tesla within 6 months. Both are „religions“, although Tesla has several risks: @elonmusk Bitcoin belongs to and is managed by a giant decentralized community that is growing every day. It is a bet of risk management. I have 2 Teslas“.

Currently Bitcoin has a market value of $ 430 billion, while Tesla’s capitalization is $ 616 billion.

Although he cited Elon Musk as a risk for Tesla, he defended the entrepreneur: „To be honest, I don’t think Elon Musk is a risk, I think his vision, determination and engagement with the public were crucial in the achievements of the companies he created“.

Currently the market capitalization of Bitcoin is only less than 11 companies. If it surpasses Tesla’s, as predicted by the analyst, Bitcoin would become the 6 largest „company in the world.

The digital currency has already surpassed the market capitalization of large companies such as MasterCard, Walmart, Johnson & Johnson, Nvidia, Paypal and even Bank of America.

Bitcoin’s current market capitalization is also higher compared to any bank in the world. Last Saturday (19), when the digital currency reached a price of $ 24 thousand, the market capitalization of JP Morgan was the largest in the banking sector, but lost to Bitcoin.

Analysts believe that the capitalization of digital currency could reach US$ 1 trillion by the end of 2021, if this happens, Bitcoin will have the fifth largest market capitalization, behind only Google, Amazon, Microsoft and Apple.

For the digital currency market capitalization to reach $1 trillion, it would have to reach a price of $54,000 per unit by the end of 2021, a high of 115% of its current price.

Although the figure appears to be high, a Citibank report forecasts Bitcoin worth $300,000 already next year, a rise that would be driven by institutional adoption.