Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Elon Musk’s Tesla Starting to Feel Like Bitcoin Mania of 2017, Says Mike Novogratz

by Daily Hodl Staff
January 27, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

The king of cryptocurrency, Bitcoin, skyrocketed from $998 at the start of 2017 to an all-time high of $20,089 in December of that year. Now, more than two years later, former hedge fund manager and Wall Street legend Michael Novogratz says he sees a similar script unfolding for electric car company Tesla.

Novogratz, the founder of crypto investment firm Galaxy Digital, took to Twitter to share his thoughts on the performance of Tesla’s stock.

#TSLA starting to feel like $BTC in 2017…. a mania…

— Michael Novogratz (@novogratz) January 22, 2020

After a meteoric month, the market cap of Elon Musk’s electric car company now stands at an astronomical $101.8 billion, according to Yahoo Finance. Tesla is now the most valuable car company in the US, eclipsing the combined valuations of General Motors ($49 billion) and Ford ($35 billion).

But a number of short-sellers aren’t giving up their positions quite yet, pointing to the fact that Tesla sold a mere 367,500 units in 2019 compared to Ford’s 2.41 million and GM’s 2.9 million.

Business Insider, citing data from S3 Partners, says short-sellers betting against Tesla have lost $3.3 billion year-to-date. But Tom Thornton of Hedge Fund Telemetry says the stock is moving too far too fast.

“The fundamentals in my view just don’t support [the price]. This crazy stock continues to amaze me.”

As of press time, Tesla (TSLA) is trading at $564.82, up 215% in the past seven months.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Mykhailo Matviichuk

Submit a Press Release

Crypto Livewire – Press Releases

  • How Traders Are Gaining by Holding Crypto: Staking Tron (TRX) and Cardano (ADA)
    January 21, 2021
  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
Submit a Guest Post
Bitcoin
$33,062.00
$33,062.00
4.23%
Ethereum
$1,257.38
$1,257.38
7.49%
XRP
$0.278101
$0.278101
3.55%
Litecoin
$139.88
$139.88
2.49%
Bitcoin Cash
$435.82
$435.82
3.19%

Spotlight

  • Enormous Ethereum Investor Is Giving Away $450,000 in Crypto – Here’s Why
    January 16, 2021
  • Crypto Trader Says Two Altcoins No One’s Talking About Are Set To Explode in 2021
    January 21, 2021
  • Top Crypto Analyst Pivots to Altcoins, Names Top Picks, Declares Historic Bull Run Imminent
    January 18, 2021
  • Top Crypto Analyst Says He’s ‘Backing the Truck Up’ To Buy 7 Altcoins As Ethereum and Bitcoin Tumble
    January 22, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.