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Bitcoin (BTC), the pioneering cryptocurrency, has <a href="https://companiesmarketcap.com/assets-by-market-cap/" rel="noopener noreferrer nofollow">surpassed</a> electric vehicle giant Tesla in market capitalization.&nbsp;
With Bitcoin's value currently standing at approximately $730.90 billion and <a href="https://u.today/heres-how-much-bitcoin-tesla-holds-0" rel="noopener noreferrer nofollow">Tesla</a> at $675.61 billion, the flagship digital currency is reigning supreme once again.&nbsp;
The recent surge in Bitcoin's price, now hovering around $37,373, signals a robust recovery from previous lows after a string of massive setbacks that dealt a huge blow to the industry in 2022.&nbsp;
<h2 id="tesla-stumbles-as-bitcoin-soars">Tesla stumbles as Bitcoin soars &nbsp;&nbsp;</h2>
This year, Bitcoin has experienced substantial growth, with its price increasing by over 125% year-to-date. For comparison, Tesla's stock is up 70.27%.&nbsp;
Over the past five days, Bitcoin saw a significant uplift, starting at $34,630 and reaching a high of $37,962, an increase of 7.77%. In contrast, Tesla's stock opened at $219 and dropped to $205, a 4.65% decrease, despite a brief peak at $226.
Looking at the one-month performance, Bitcoin's remarkable ascent is evident. The cryptocurrency soared from a low of $26,550 to a high of $37,962, an impressive 36.21% gain. Tesla, however, witnessed a sharp decline, opening at $263 and plummeting to $194, a substantial drop of 20.44%.
Recently, the Tesla stock dropped a 5% drop in shares following a sell rating from <a href="https://u.today/shib-xrp-payments-now-available-for-hsbc-bank-users-via-this-partnership" rel="noopener noreferrer nofollow">HSBC</a>. Conversely, Bitcoin has been riding high due to enthusiasm surrounding the seemingly imminent launch of a Bitcoin exchange-traded fund (ETF). &nbsp; &nbsp;&nbsp;
However, cautionary notes <a href="https://u.today/as-bitcoin-price-surpasses-37000-top-advocate-predicts-more-thrills-in-store" rel="noopener noreferrer nofollow">have been sounded</a> by skeptics like JPMorgan, labeling the crypto rally as potentially overextended.&nbsp;
<h2 id="the-next-targets-for-bitcoin">The next targets for Bitcoin</h2>
Bitcoin is rapidly approaching the market caps of other major companies. <a href="https://u.today/nvidia-pours-cold-water-on-blockchain" rel="noopener noreferrer nofollow">Nvidia</a>, with a market cap of $1.184 trillion, Meta Platforms (Facebook) at $840.93 billion, and Berkshire Hathaway at $761.65 billion, are within sight for the crypto king.&nbsp;
Bitcoin's current market capitalization of $730.90 billion positions it as a formidable player in the global financial landscape, but it is far from matching its peaked market cap of $1.28 trillion that was achieved last October.&nbsp;
Back then, the bellwether coin briefly became the world's eighth most valuable asset, coming close to surpassing silver. &nbsp; &nbsp; &nbsp;&nbsp;

Bitcoin (BTC) Surpasses Tesla as It Edges Closer to $38,000

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