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Tesla's Bitcoin holdings have lost about two-thirds of their peak value, even though Bitcoin has gained more than 30% since the company first invested in the cryptocurrency. The decline primarily reflects Tesla's decision to sell most of its holdings over the past several years.
According to Protos, Tesla purchased 43,200 BTC in early 2021 and announced plans to accept Bitcoin as payment for its vehicles. Around the same time, Elon Musk publicly endorsed the cryptocurrency, adding #bitcoin to his X profile and repeatedly expressing support for the asset.
Value of Tesla's Bitcoin portfolio. Source: Protos.
Less than two months later, however, the company began reducing its Bitcoin holdings. Elon Musk said the initial sale was intended to demonstrate Bitcoin's liquidity as an alternative to holding cash on the corporate balance sheet.
Tesla moved away from its original Bitcoin strategy
Tesla later stopped accepting Bitcoin as payment, citing the environmental impact of cryptocurrency mining. Musk said the company would reconsider once the mining industry shifted toward cleaner energy sources.In mid-2022, Tesla sold another 29,160 BTC, reducing its holdings to 9,720 BTC. That balance remained unchanged for more than two years until late 2024, when the company purchased an additional 1,789 BTC, bringing its total holdings to 11,509 BTC.Tesla described the acquisition as "immaterial."
As a result, the company now holds only about one-quarter of its original Bitcoin position, explaining why the overall value of its crypto portfolio has fallen sharply from its all-time peak.
Musk rarely comments on Bitcoin anymore
Over the past several years, Musk has largely stopped commenting publicly on Bitcoin. While he frequently voiced support for the cryptocurrency in 2021, his later remarks became much less frequent and, at times, contradictory.For example, Musk previously said Tesla stopped accepting Bitcoin because of environmental concerns related to mining. In 2025, however, he again expressed support for the asset, arguing that unlike fiat currencies, Bitcoin is backed by energy that cannot be counterfeited.
Despite those occasional positive remarks, Tesla has never returned to its original strategy of accumulating Bitcoin or accepting it as a payment method.
Meanwhile, Strategy, the world's largest corporate Bitcoin holder, recently began selling part of its reserves for the first time. The company sold 3,588 BTC for approximately $216 million, using the proceeds to fund preferred stock dividend payments and replenish its U.S. dollar reserve. Even after the sale, Strategy still holds 843,775 BTC.
Earlier, Tesla launched the six-seat Model Y L in the United States, priced at $61,990. The company hopes the new version will help support electric vehicle demand following the expiration of a key federal tax credit.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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