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CoinMarketCap Lists Tesla Above Bitcoin

By Crypto Alphabet | Alphabet News | 9 Feb 2021


Market aggregator CoinMarketCap has put Tesla above Bitcoin in a design decision that may confuse investors.

The Model 3 Tesla is now listed at #0 on the site, with a price of $37,000 and a market cap of $24.85 billion. This appears to be price of the vehicle itself, not the price of Tesla's TSLA stock (valued at $849.46).

Furthermore, the supposed market cap is lower than Bitcoin's market cap of $879 billion.

This is not the first time that the site has made a listing of this type. On Jan. 29, CoinMarketCap listed Wall Street Bets at the top of its lists. And, on April Fools' Day in 2020, it listed the non-existed Toilet Paper Token at the top of its lists.

When those links are clicked, visitors are taken to a sub site that explains the context for the false listing. In this case, Tesla's recent purchase of $1.5 billion of Bitcoin is the relevant news story.

Nevertheless, some users may feel misled by the site's decision to organize its cryptocurrency listings in this way.

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