Bitcoin Soars to Record Highs as Tesla Struggles, Decoupling Stock from Crypto

• Bitcoin and Tesla stock used to be correlated, but have diverged recently as Bitcoin surges and Tesla struggles • Tesla's stock price has fallen 28% in 2023, while Bitcoin has gained 63% to all-time highs • Morgan Stanley analyst attributes the divergence to disappointing Tesla financials and investors pivoting from EVs to AI • Morgan Stanley remains bullish on Tesla with a Street-high $320 price target (79% upside) • Overall analyst consensus rating on Tesla is a Hold, with average price target implying 23% upside