Elon Musk’s Tesla Bitcoin (TSLA) Holdings remained unchanged in the first quarter of 2026, and the company continued to maintain its reserves of 11,509 BTC.
The company posted an after-tax impairment loss of $173 million on its digital asset holdings, according to its first-quarter earnings report.
The value of that stash declined as bitcoin fell from around $90,000 at the beginning of the year to about $68,000 at the end of March.
Tesla reported better-than-expected earnings but no revenue. For the first quarter, the company reported revenue of $22.39 billion, slightly missing analyst estimates of $22.71 billion. Earnings per share were $0.41, above consensus estimates of $0.37.
TSLA shares were trading 4% higher in after-hours trading.
Tesla’s bitcoin journey
Tesla initially purchased bitcoin in February 2021, acquiring 43,200 BTC for approximately $1.5 billion. About a month later, the company sold around 4,320 BTC, about 10% of its position, to test market liquidity.
In July 2022, in the midst of the bear market, Tesla had reduced its position to 9,720 BTC. A small increase in January 2025 brought holdings to 11,509 BTC, where they have remained since.
