Tesla Stock Now Looks Exactly Like Bitcoin at $20K in 2017

Bitcoin (BTC) hit all-time highs of $20,000 in December 2017 before retracing — but another stock is now echoing its journey to an almost identical degree.

Data from markets collated by crypto venture capitalist Mike Novogratz on Feb. 3 shows that Tesla stock ($TSLA) is currently closely mimicking Bitcoin from 2017.

$TSLA hits record levels

Placing BTC/USD from that year over Tesla stocks from 2019, the extent of the two assets’ correlation becomes immediately clear. Bitcoin took almost exactly as long to go from $1,000 to $20,000 as Tesla did to reach its current peak of $780.

Tesla stock in 2019 versus Bitcoin in 2017. Source: Mike Novogratz/ Twitter

“Wow,” Novogratz summarized, as attention continues to focus on Tesla’s rapid gains this year. 

As Cointelegraph reported, the company managed to outdo Bitcoin’s impressive 35% gains in January, topping 40% in an unanticipated wave of enthusiasm.

Buying the top?

Nonetheless, some commentators are already wary that the good…