Analyst Who Ditched Tesla for Bitcoin Now Eyes a Comeback Trade

Tuur Demeester, a long-time crypto analyst known for his prescient 2022 warning to rotate out of Tesla and into Bitcoin, may be reconsidering his position. The move, made at a time when Tesla traded near its peak and Bitcoin hovered near its lows, turned out to be a well-timed call. Since then, Tesla shares have gained just 12%, while Bitcoin has quadrupled.

This week, Demeester posted a chart on X comparing Tesla stock value to Bitcoin, hinting that the ratio has swung far enough to consider rebalancing. The message was subtle, but the timing is hard to ignore. Tesla shares are under pressure, while Bitcoin is testing support after months of strength.

But this isn’t just a trade between two volatile assets — it’s a broader question about Tesla’s direction and what kind of company it really is heading into the next market cycle.

Bitcoin on the Balance Sheet

Tesla remains one of the few large-cap companies with deep crypto exposure. Its holdings of more than 11,000 Bitcoins — now worth over $11 billion — have become a meaningful piece of its balance sheet. If Bitcoin keeps climbing, it could help offset softness in Tesla’s core business. But it also increases exposure to crypto market swings, making Tesla’s valuation harder to peg.

Robotaxi Rollout: Scaled Promise or Speculative Play?

Tesla’s autonomous driving push has moved closer to real-world testing. The company recently secured approval to operate robotaxis in Austin, Texas. Early reactions have been mixed, but the strategy is clear: Tesla isn’t aiming to dominate ride-hailing through a centralized fleet like Waymo. Instead, it wants to create a decentralized network where car owners offer up their vehicles as autonomous taxis.

The pitch is ambitious — and largely unproven. Tesla’s model could allow for quicker scaling, but reliability, cost, and regulation remain major question marks. What’s certain is that Tesla is betting heavily that autonomy — not just vehicle sales — will define its future.

Humanoid Robots Enter the Frame

Tesla’s Optimus robot is inching closer to factory deployment. While still early, the company says it plans to use humanoid robots in its own operations by the end of the year. A commercial version could arrive as soon as 2026.

This isn’t about novelty. Tesla is positioning Optimus as a labor solution, potentially capable of household and industrial tasks. Whether the robot becomes a serious revenue stream or a distraction remains to be seen. So far, it's produced no revenue — but it's generating plenty of investor interest.

EV Core Faces Pressure at Home and Abroad

While the headlines focus on AI and robotics, Tesla’s electric vehicle business is losing ground. In Europe, Chinese rival BYD is eating into Tesla’s market share. Sales in China have slowed. In the U.S., competition is intensifying as more legacy and startup automakers enter the space.

Complicating matters is CEO Elon Musk’s increasingly political public profile. His support for conservative candidates has alienated parts of Tesla’s early customer base, particularly in Europe. The company saw a notable sales dip in Germany after Musk publicly backed a far-right figure. For a brand once built on progressive values and clean tech appeal, that shift is proving costly.

Bitcoin Outruns Tesla — But Analyst Eyes a Turn

Demeester hasn’t disclosed whether he plans to buy back into Tesla, but his public chart suggests he’s watching the valuation shift closely. Since his original call in 2022, Bitcoin has surged more than 400%, while Tesla has struggled to regain momentum — pressured by a shrinking EV market share, political backlash, and growing competition from Chinese automakers.

For investors, the question now isn’t just whether Tesla can rebound — it’s whether the company’s future outside of EVs, from robotaxis to humanoid robots, is ready to carry the weight of its valuation.

Also Read: Tesla Sales Drop 13% as Political Backlash Against Musk Continues to Bite