TLDR
- In January 2021, Tesla acquired 43,770 BTC for approximately $1.5 billion, paying an average of $34,270 per coin
- Between March and April 2021, the EV manufacturer liquidated 4,670 BTC for $260.2 million, securing approximately $100.2 million in gains
- The bulk of Tesla’s Bitcoin was offloaded in 2022 amid cryptocurrency market volatility, leaving approximately 8,430 BTC (20% of initial purchase)
- Current SEC filings show Tesla maintains 11,509 BTC with a valuation of $1.007 billion, a figure that remained static through the end of 2024
- Blockchain data from Arkham indicates SpaceX separately owns 8,285 BTC valued at $584 million
When Tesla acquired 43,770 Bitcoin in early 2021 for approximately $1.5 billion, it marked a watershed moment for corporate cryptocurrency adoption. Fast forward to today, and the electric vehicle giant maintains 11,509 BTC valued slightly above $1 billion. The journey between these two points tells a fascinating story.
On March 6, blockchain intelligence platform Arkham released a comprehensive analysis detailing Tesla’s complete Bitcoin transaction record, utilizing on-chain data combined with publicly available financial statements.
— Arkham (@arkham) March 6, 2026
The company’s initial Bitcoin acquisition occurred at an average cost of approximately $34,270 per unit. This major announcement triggered a significant rally in Bitcoin’s price, and the investment’s value nearly doubled within a matter of weeks.
Tesla’s first divestment occurred shortly thereafter. Between March and April 2021, the company liquidated 4,670 BTC for around $260.2 million, realizing profits of approximately $100.2 million.
CEO Elon Musk explained the move as an experiment to evaluate Bitcoin’s market liquidity. During this period, Tesla also experimented with accepting Bitcoin for vehicle purchases in 2021, though the program was subsequently paused due to environmental concerns surrounding Bitcoin mining operations.
Tesla’s Major 2022 Bitcoin Liquidation
The most significant divestment occurred throughout 2022. As the Terra ecosystem imploded and sent cryptocurrency markets into turmoil, Tesla liquidated a substantial portion of its remaining position.
Arkham documented these transactions by monitoring substantial transfers from wallets associated with Tesla to addresses linked to Coinbase. Following these sales, Tesla’s holdings stood at approximately 8,430 BTC — roughly one-fifth of its original purchase.
Since that time, the company has avoided significant Bitcoin transactions. Tesla’s SEC filing for the fiscal year concluding December 31, 2025, verifies it continues to hold 11,509 BTC, matching the figure disclosed at 2024 year-end.
The company reports a cost basis of $386 million for these assets. Year-end 2025 fair value reached $1.007 billion, representing a slight decline from the $1.074 billion valuation at 2024 year-end.
Tesla’s Cryptocurrency Accounting Methodology
Under accounting standard ASC 350-60, Tesla categorizes its digital assets as indefinite-lived intangible assets. Initial recording occurs at purchase cost, with subsequent fair value adjustments reflected on the balance sheet.
Realized and unrealized gains or losses flow through “Other (expense) income, net” in the company’s financial statements. The filing indicates that any Bitcoin acquisitions during 2024 and 2025 were negligible.
These minor inflows are presumed to be Dogecoin, currently the sole cryptocurrency Tesla accepts. The Tesla Shop enables customers to purchase merchandise, including clothing and accessories, using Dogecoin.
Arkham verified that through early March 2026, Tesla has demonstrated no intention of liquidating its existing Bitcoin position. At the time of analysis, Bitcoin traded around $69,990, reflecting a 3.61% decline over 24 hours.
Arkham’s research also revealed that SpaceX maintains 8,285 BTC worth approximately $584 million, positioning it as another significant corporate Bitcoin holder alongside Tesla.
