Elon Musk's Tesla Boasts Nearly $1 Billion in Bitcoin

Per Bitcoin’s current market price, the company’s current Bitcoin holdings are now worth about $960 million after surviving multiple periods of extreme volatility.

While the holdings have survived several months of market turmoil, the firm still boasts substantial paper gains, considering that Bitcoin was a lot cheaper when it initially bought in 2021. With its current holdings, Tesla remains one of Bitcoin’s largest corporate holders.

Tesla’s secured over $710 million in Bitcoin gains

At the time of its initial venture, Tesla made headlines in February 2021 when it joined the Bitcoin bandwagon after disclosing a Bitcoin purchase worth $1.5 billion.

Its Bitcoin purchase at that time delivered large gains as Bitcoin’s price climbed massively some weeks later, causing Tesla’s Bitcoin holdings to reportedly be worth more than $2 billion, and around $2.5 billion at one point.

Nonetheless, Tesla later reduced its exposure after it sold 4,670 $BTC in 2021, and subsequently made other major moves during the May 2022 market turmoil associated with the LUNA crash.

After several occasions of dumping and buying more $BTC tokens, Tesla’s Bitcoin stash has remained around 8,430 $BTC since 2022.

The stash, which was worth about $250 million at the time, is now worth about $960 million per Bitcoin’s recent price, marking a gain of over $710 million in four years.