Expert Who Predicted Tesla Stock Crash Reconsiders — Bitcoin and 3 More Factors To Watch
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%.
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However, his tune is starting to change. In a recent X post, Demeester pondered if now is a good opportunity to get back into Tesla stock. His chart compares how much Bitcoin you can buy with a single Tesla share.
While the share price seems to present a buy-the-dip opportunity, there are a few key factors to consider before deciding if Tesla is a buy.
Bitcoin Growth
Bitcoin’s growth doesn’t only play a role in Bitcoin vs. Tesla debates, but it also has a direct impact on Tesla’s stock price. The EV maker has more than 11,000 Bitcoins and continues to grow its stockpile. That’s well over $11 billion in Bitcoin. If the cryptocurrency gains more value and Tesla continues to build its position, Bitcoin will soon have a more sizable impact on Tesla’s future price movements.
Robotaxis
Robotaxis are a key piece of Tesla’s long-term bullish outlook. Tesla recently received the green light in Austin, Texas, according to Time, and its robotaxis have received mixed reviews. As the technology improves and becomes more accurate, lower prices will draw people away from services like Uber.
While Waymo is the current leader in the United States, Tesla has a key advantage. The company is a widely recognized automaker, and many people buy Tesla vehicles just to drive them. Future vehicles will have a robotaxi component that lets Tesla owners earn money from their vehicles even when they aren’t driving them.
This type of network can grow rapidly and in a more cost-effective manner than Waymo. Tesla has Airbnb scaling potential with its robotaxi service, while Waymo isn’t selling cars to the public, which makes it more expensive for them to expand operations.
Humanoid Robots
Humanoid robots are another long-term catalyst for Tesla investors. Optimus has made great strides and will be used in Tesla factories later this year, according to Business Insider. Tesla humanoid robots could be available for purchase as soon as 2026.
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