Tesla’s bitcoin stash loses $173M in Q1 as BTC price drops
Elon Musk’s Tesla’s (TSLA) bitcoin holdings were unchanged in the first quarter of 2026, with the company continuing to hold its 11,509 BTC stockpile.
The company booked an after-tax impairment loss of $173 million on its digital asset holdings, according to its first quarter earnings report.
The value of that stash declined as bitcoin fell from around $90,000 at the start of the year to roughly $68,000 by the end of March.
Tesla reported better-than-expected earnings but missed on revenue. For the first quarter, the firm reported revenue of $22.39 billion, slightly below than analyst estimates of $22.71 billion. Earnings per share came in at $0.41, higher than consensus forecast of $0.37.
TSLA stock was trading 4% higher in after-hours trading.
Tesla’s bitcoin journey
Tesla initially bought bitcoin in February 2021, acquiring 43,200 BTC for roughly $1.5 billion. About a month later, the company sold around 4,320 BTC, roughly 10% of its position, to test market liquidity.
By July 2022, amid the bear market, Tesla had cut its position to 9,720 BTC. A small increase in January 2025 brought holdings to 11,509 BTC, where they have remained since.
