Holdings Unchanged, Losses Soar…Tesla's Bitcoin Dilemma

▲ Elon Musk, Tesla, Bitcoin (BTC) / ChatGPT generated image ©

Tesla has maintained its Bitcoin holdings, but recorded an unrealized loss of $173 million during the first quarter, drawing market attention once again.

According to cryptocurrency media outlet CoinDesk on April 22 (local time), Tesla maintained its Bitcoin (BTC) holdings at 11,509 BTC during the first quarter of 2026, with no separate purchases or sales. This is currently valued at approximately $880 million.

However, as the price of Bitcoin fell from approximately $90,000 to $68,000 during the first quarter, Tesla reflected an after-tax unrealized loss of approximately $173 million on its digital assets. Although the holdings remained unchanged, the price drop directly impacted the financial statements.

The overall performance was mixed. Tesla's Q1 revenue of $22.39 billion slightly missed market expectations of $22.71 billion, but its earnings per share of $0.41 exceeded the forecast of $0.37. Consequently, Tesla's stock price rose by approximately 4% in after-hours trading.

Tesla's history of Bitcoin investment is also drawing renewed attention. The company invested approximately $1.5 billion in February 2021 to purchase 43,200 BTC, then reduced its holdings to 9,720 BTC by July 2022 through partial sales. After a slight increase in early 2025, it currently maintains around 11,509 BTC.

Ultimately, Tesla continues to operate under a structure where it maintains its holding strategy while directly bearing the risk of price fluctuations. Market interest is expected to continue as future performance volatility is highly likely to be reflected based on Bitcoin's price movements.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*