Between Sep. 9 and 16, the price of Bitcoin (BTC) rose by over 11%. Similarly, in the same period, Tesla stock (NASDAQ:TSLA) surged from $330.21 to $449.76, by 36.2%.
Tesla stock and the Bitcoin price have seen an uncanny correlation in recent weeks. The correlation might come from the similarities between BTC price movements and the S&P 500. It also might be related to the fact that millennial traders actively trade both BTC and TSLA.