Tesla Once Held $1.5B in Bitcoin — Here’s Where That Crypto Is Now

TLDR

• Tesla bought 43,770 BTC in January 2021 for around $1.5 billion at an average price of $34,270
• The company sold 4,670 BTC in March–April 2021 for $260.2 million, making roughly $100.2 million profit
• Tesla sold most of its remaining BTC in 2022 during market turmoil, keeping only about 8,430 BTC (20% of original holdings)
• Tesla now holds 11,509 BTC valued at $1.007 billion, unchanged since end of 2024, per its SEC filing
• SpaceX also holds 8,285 BTC worth $584 million, per blockchain analytics firm Arkham

Tesla bought 43,770 Bitcoin in January 2021 for around $1.5 billion. Today, it holds 11,509 BTC worth just over $1 billion. Here is what happened in between.

Blockchain intelligence firm Arkham published an analysis on March 6 mapping Tesla’s full Bitcoin transaction history using on-chain data and public financial disclosures.

Tesla entered the Bitcoin market at an average price of roughly $34,270 per coin. The announcement sent Bitcoin’s price sharply higher, and within weeks the position had nearly doubled in value.

The company made its first sale just months later. In March and April 2021, Tesla sold 4,670 BTC for approximately $260.2 million, generating a profit of roughly $100.2 million.

At the time, Elon Musk said Tesla was testing how liquid Bitcoin was on the open market. Tesla also briefly accepted Bitcoin as payment for vehicles in 2021, but suspended it later that year over environmental concerns tied to Bitcoin mining.

Tesla’s Big Bitcoin Sale in 2022

The larger sell-off came in 2022. During the collapse of the Terra ecosystem, which sent shockwaves across crypto markets, Tesla sold a large portion of its holdings.

Arkham tracked these transactions through large transfers from Tesla-linked wallets to Coinbase addresses. After those sales, Tesla retained around 8,430 BTC — about 20% of what it originally bought.

The company has not made any material Bitcoin purchases or sales since then. Its SEC filing for the fiscal year ended December 31, 2025, confirms it still holds 11,509 BTC, the same amount reported at the end of 2024.

Tesla lists a cost basis of $386 million for those holdings. The fair value at year-end 2025 was $1.007 billion, down slightly from $1.074 billion at the end of 2024.

How Tesla Accounts for Its Crypto

Tesla classifies its crypto assets as indefinite-lived intangible assets under accounting standard ASC 350-60. It records them initially at cost and then reflects fair value on its balance sheet.

Gains and losses go through “Other (expense) income, net” in the company’s financials. The filing notes that any Bitcoin purchases in 2024 and 2025 were immaterial.

The small inflows are believed to be Dogecoin, the only cryptocurrency Tesla officially supports. Customers can use Dogecoin to buy merchandise through the Tesla Shop, including apparel and accessories.

Arkham confirmed that as of early March 2026, Tesla has shown no sign of selling its current Bitcoin holdings. The coin was trading at approximately $69,990 at the time of the analysis, down 3.61% in 24 hours.

Arkham also noted that SpaceX holds 8,285 BTC valued at approximately $584 million, making it another large corporate Bitcoin holder alongside Tesla.

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