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 inventory.
The company booked an after-tax impairment loss of $173 million on its digital assets, according to its first-quarter earnings report.
The value of this stash dropped as bitcoin fell from around $90,000 at the start of the year to around $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 analysts’ estimates of $22.71 billion. Earnings per share came in at $0.41, topping the consensus forecast of $0.37.
TSLA stock traded 4% higher in after-hours trading.
Tesla’s bitcoin journey
Tesla initially bought bitcoin in February 2021, acquiring 43,200 BTC for around $1.5 billion. About a month later, the company sold about 4,320 BTC, about 10% of its position, to test the market’s liquidity.
By July 2022, in the middle of the bear market, Tesla had cut its position down to 9,720 BTC. A small increase in January 2025 brought the holdings to 11,509 BTC, where they have remained since.
