Elon Musk’s Tesla has maintained its bitcoin holdings, keeping a stockpile of 11,509 BTC throughout the first quarter of 2026, according to its latest earnings report. While the value of Tesla’s bitcoin assets saw a significant reduction due to the volatile nature of cryptocurrency markets, the company reported an after-tax impairment loss of $173 million on these digital assets. This loss is largely attributed to a decline in bitcoin’s price, which dropped from approximately $90,000 at the beginning of the year to around $68,000 by the end of March.
Despite this setback in its digital asset valuation, Tesla delivered earnings that exceeded expectations, although it fell short of revenue forecasts. For the first quarter, the electric vehicle manufacturer reported a revenue of $22.39 billion, which was slightly below analyst projections of $22.71 billion. On the positive side, the company’s earnings per share reached $0.41, surpassing the consensus forecast of $0.37. Following the earnings announcement, TSLA stock saw a boost, trading 4% higher in after-hours trading.
Tesla’s relationship with bitcoin has evolved significantly since it began investing in the cryptocurrency back in February 2021, when it purchased 43,200 BTC for approximately $1.5 billion. Shortly thereafter, in March 2021, Tesla sold about 4,320 BTC, roughly 10% of its total, as a move to test market liquidity. The company’s bitcoin strategy underwent further revisions, particularly during the bear market of July 2022, when it reduced its holdings to 9,720 BTC.
However, a small increase in January 2025 brought Tesla’s bitcoin holdings back up to the current figure of 11,509 BTC, where they have remained stable since. As Tesla continues to navigate the fluctuations of the cryptocurrency market, its ongoing commitment to holding a significant amount of bitcoin reflects the company’s complex and strategic approach to digital assets.
