Key Highlights
- Tesla acquired 43,770 BTC during January 2021 at approximately $1.5 billion with an average entry price of $34,270
- Between March and April 2021, the company liquidated 4,670 BTC for $260.2 million, securing approximately $100.2 million in gains
- During the 2022 market downturn, Tesla divested the majority of its position, retaining roughly 8,430 BTC (representing 20% of initial acquisition)
- Current holdings stand at 11,509 BTC with a valuation of $1.007 billion, remaining stable through the end of 2024, according to SEC documentation
- SpaceX maintains a separate position of 8,285 BTC valued at $584 million, according to blockchain analytics provider Arkham
Tesla’s acquisition of 43,770 Bitcoin during January 2021 totaled approximately $1.5 billion. Currently, the electric vehicle manufacturer maintains 11,509 BTC valued slightly above $1 billion. The following details chronicle the complete journey.
On March 6, blockchain intelligence provider Arkham released comprehensive research documenting Tesla’s entire Bitcoin transaction record through analysis of on-chain data combined with publicly available financial statements.
— Arkham (@arkham) March 6, 2026
Tesla’s market entry occurred at an average acquisition cost of approximately $34,270 per Bitcoin unit. The disclosure caused Bitcoin’s price to surge substantially, with the position’s value nearly doubling within several weeks.
The initial divestment occurred merely months following the purchase. Between March and April 2021, Tesla liquidated 4,670 BTC for around $260.2 million, recording profits of approximately $100.2 million.
Elon Musk explained at that time that Tesla was evaluating Bitcoin’s market liquidity through practical testing. Tesla temporarily enabled Bitcoin payments for vehicle purchases in 2021, though the program was paused due to environmental considerations related to Bitcoin mining operations.
The Major 2022 Bitcoin Divestment
The more substantial liquidation occurred throughout 2022. Following the Terra ecosystem collapse, which created widespread turbulence throughout cryptocurrency markets, Tesla divested a significant portion of its position.
Arkham documented these movements by monitoring substantial transfers from Tesla-associated wallets to Coinbase deposit addresses. Following these transactions, Tesla maintained approximately 8,430 BTC — representing roughly 20% of the original acquisition.
The company has executed no significant Bitcoin transactions since that period. SEC documentation for the fiscal year ending December 31, 2025, verifies holdings of 11,509 BTC, matching the quantity disclosed at 2024’s conclusion.
Tesla reports a cost basis of $386 million for these holdings. The fair market value at 2025 year-end reached $1.007 billion, declining modestly from $1.074 billion at the previous year-end.
Tesla’s Cryptocurrency Accounting Methodology
Tesla categorizes its cryptocurrency assets as indefinite-lived intangible assets under accounting standard ASC 350-60. Initial recording occurs at acquisition cost, with subsequent fair value adjustments reflected on the balance sheet.
Realized and unrealized gains or losses flow through “Other (expense) income, net” within the company’s financial statements. The filing indicates that any Bitcoin acquisitions during 2024 and 2025 were immaterial.
The minor inflows likely represent Dogecoin, the sole cryptocurrency Tesla actively accepts. The Tesla Shop enables customers to purchase merchandise including apparel and accessories using Dogecoin.
Arkham verified that through early March 2026, Tesla has displayed zero indication of liquidating its existing Bitcoin position. The cryptocurrency traded at approximately $69,990 during the analysis period, representing a 3.61% decline over 24 hours.
Arkham’s research also identified that SpaceX maintains 8,285 BTC worth approximately $584 million, establishing it as another significant corporate Bitcoin holder alongside Tesla.
