The Tesla legacy has never been all about cars. The future of the company is now tied to the extent to which they can convert radical ideas into reality. Tuur Demeester, a former adviser to investors, advises them to select Tesla instead of Bitcoin, but he has now changed his mind. His previous prediction came true as Tesla share prices trailed the rising star of Bitcoin.
The success of Bitcoin to Tesla is not just a footnote. This firm possesses in excess of 11,000 Bitcoins valued at more than $11 billion. As long as Bitcoin continues to rise, the financial position of Tesla will improve tremendously. That connection implies that now, the Tesla stock will be subjected to crypto market fluctuations. Investors should monitor the two markets as any action in Bitcoin will neutralize the value of Tesla.
Another large bet is the project Robotaxi of Tesla. However, the company has been testing Robotaxis in Austin, Texas, with mixed reviews. Tesla can attract riders by making this service as reliable and affordable as possible, which would pull them out of other services such as Uber.
The Optimus humanoid robot is also in a hot scene. Tesla will implement these robots in its factories in the near future, and the company may sell these robots to the masses by 2026. Provided that these robots perform as advertised, they might create new markets and sources of income. However, they have not earned true profits as yet, and there remains much doubt as to the rate at which the technology is going to spread.
Although these projects seem exciting, the main Tesla electric vehicle business has been under pressure. The rivalry between Chinese brands, such as BYD, is intense in China and Europe. Political concerns also harmed the image of Tesla among its established businesses, among which sales started declining in major markets. The future of Tesla stock is linked to the ability of its new projects to bring tangible outcomes and to take back the positions lost in the EV market.
Crypto investor and analyst Tuur Demeester made a great call in August 2022: swap your Tesla shares for Bitcoin. Shortly after that call, Tesla took a massive slide and is only up by 12% since August 2022. Meanwhile, Bitcoin recovered from its 2022 lows and soared by more than 400%.