In the first quarter of 2026, Tesla (TSLA), led by Elon Musk, reported no change in its bitcoin holdings, maintaining a stockpile of 11,509 BTC. The company disclosed an after-tax impairment loss amounting to $173 million for its digital assets in its quarterly earnings report.
The devaluation occurred as the price of bitcoin dropped from approximately $90,000 at the beginning of the year to around $68,000 by March’s end. Despite this loss, Tesla exceeded expectations with its earnings per share reaching $0.41, surpassing the forecasted $0.37. However, revenue fell short of analyst predictions, totaling $22.39 billion compared to the anticipated $22.71 billion.
Tesla shares experienced a 4% increase in after-hours trading following these announcements. The company first invested in bitcoin in February 2021, purchasing 43,200 BTC for nearly $1.5 billion. In March of that year, Tesla liquidated about 10%, or 4,320 BTC, to evaluate market liquidity.
Subsequently, during a bear market in July 2022, Tesla reduced its holdings to 9,720 BTC. A slight increase in January 2025 adjusted the total to 11,509 BTC, where it has remained since.