The year 2023 turned out to be good for Bitcoin (BTC) as its price surged by over 150%. Bitcoin was struggling in 2022 with a downturn in line with major tech companies. BTC emerged as a top performer in 2023 by outshining many tokens in the market. However, it is important to note the price surge in Meta, Tesla, and Amazon shares aligned with Bitcoin performance.
Meta shares skyrocket with Bitcoin surge
Starting with Meta Platforms Inc (NASDAQ: META), formerly Facebook, the social media giant witnessed a massive increase in its share price from 2022 to 2023. Meta share price is up by 160% on the year to date (YTD) basis. It is trading at an average price of $325, at the press time.
Meta took several strategic actions during 2023. Such as rebranding and shifting its focus towards the metaverse. These developments seem to be generating enthusiasm among investors. It is being considered as a crucial point linked to the surge in Meta’s share price this year.
Tesla (TSLA) up by 121%
Moving on to Tesla Inc (NASDAQ: TSLA), the electric vehicle (EV) gaint recorded a mixed journey in terms of its share performance. In 2022, Tesla faced various challenges including supply chain disruptions and increased competition in the EV market.
However, Tesla managed to overcome these obstacles and delivered impressive results in 2023. Tesla share price is up by 121% on YTD. It is trading at an average price of $239.7, at the press time. This surge is expected by the effort put in by the company.
Lastly, Amazon.com Inc (NASDAQ: AMZN), one of the largest e-commerce and cloud computing companies, continued to dominate the market during this period.
Amazon recorded steady growth. Its price is up by 70% on YTD. Amazon’s share is trading at an average price of $146.10, at the press time. This reflects its strong financial performance and market position.
Bitcoin, the digital asset saw a staggering surge in 2023. Bitcoin entered the year trading at around $16,600 price level. However, BTC is trading at an average price of $41,800, at the press time.
