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  • A crypto crutch for Tesla? How a 30% Bitcoin rally is propping up a challenging earnings picture

    A crypto crutch for Tesla? How a 30% Bitcoin rally is propping up a challenging earnings picture

    A crypto crutch for Tesla? How a 30% Bitcoin rally is propping up a challenging earnings picture

    • Tesla’s Bitcoin (BTC) holdings are now worth ~$1.2 billion after a 30% BTC price rally in Q2.
    • A new US accounting rule (FASB) now allows Tesla to report the fair market value of its crypto holdings quarterly.
    • Tesla has not bought or sold any Bitcoin for eight straight quarters, with its holdings unchanged at a cost basis of $184M.

    Tesla’s significant Bitcoin holdings are now worth approximately $1.2 billion, thanks to a powerful 30% rally in the cryptocurrency’s price during the second quarter of this year.

    This paper gain, highlighted by a recent change in US accounting rules, provides a bright spot in an otherwise challenging earnings report for the electric vehicle giant, which saw its core automotive revenue decline for a second straight quarter.

    According to its latest earnings report, Tesla’s Bitcoin stash has benefited significantly from the crypto market’s recent strength. Bitcoin is currently trading at around $118,000, a substantial increase from its price of $83,000 on April 1.

    Based on data from BitcoinTreasuries.Net, which lists Tesla as holding 11,509 BTC, the automaker is the tenth largest publicly traded company to hold the crypto asset on its balance sheet.

    This gain is now more visible to investors due to a new rule approved by the Financial Accounting Standards Board (FASB). Effective from the first quarter of 2025, the rule allows companies to report the fair market value of their crypto holdings each quarter.

    Previously, corporate holders like Tesla were required to report their crypto assets at the lowest value they reached during the holding period, a method that often failed to reflect market recoveries.

    This meant that even if Bitcoin’s price rebounded, those gains would not be reflected on the balance sheet.

    Now, Tesla’s Bitcoin gains can be recognized each quarter, providing shareholders with a much clearer view of the asset’s performance.

    While its crypto holdings have appreciated, Tesla’s core business is facing significant headwinds.

    The company reported second-quarter revenue of $22.5 billion, which, according to one set of figures in the source text, missed analyst estimates of $22.74 billion.

    Adjusted earnings per share of $0.40 also reportedly fell below the expected $0.43.

    A clear point of weakness was the company’s automotive revenue, which fell by 16% year-over-year, marking the second consecutive quarterly decline.

    This follows a report from early July, in which Tesla had already disclosed a 14% drop in its Q2 vehicle deliveries, to 384,000 units.

    The company’s stock performance reflects these struggles. Shares of TSLA are down roughly 18% this year, a stark underperformance compared to other big tech names and the broader Nasdaq Composite, which is up about 9% in 2025.

    Adding to its challenges, Tesla has delayed its affordable “Model 2” EV, leaving the field open for its rivals.

    Chinese EV makers, in particular, are aggressively pushing cheaper, tech-laden vehicles that are steadily eating into Tesla’s global market share.

    The sound of silence: Tesla’s unchanged Bitcoin treasury

    Despite the significant market value of its crypto holdings, Tesla did not mention Bitcoin once in its second-quarter 2025 financial filing.

    This silence is not new. The company has not added to or sold any of its Bitcoin for eight consecutive quarters.

    According to the 10-Q form filed with the SEC on July 23, the company’s digital asset holdings remain unchanged at a cost basis of $184 million, the same value it reported in the first quarter of 2024, with no impairment losses or gains noted this time either.

    Tesla had initially made a bold move into the crypto space, purchasing $1.5 billion worth of Bitcoin in early 2021. Since then, however, it has sold off the majority of its holdings, with the last major sale occurring in the second quarter of 2022, when it offloaded roughly 75% of its BTC stash.

    Despite the recent financial and political turbulence surrounding the company, Tesla appears to be holding firm on its current crypto position—for now.

    But with mounting pressure from declining revenues and various reputational hits, investors will be watching closely for any future changes to the company’s digital asset strategy.

    Following the earnings release, shares of TSLA were up a slight 0.71% in post-market trading, with the stock trading at $331.56.
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  • Tesla reclaims $1B in Bitcoin holdings even as shares fall sharply

    Tesla reclaims $1B in Bitcoin holdings even as shares fall sharply

    Bild eines Bitcoins auf einer Papieroberfläche mit dem Tesla-Logo

    • EV sales fell 13%, production down 16%, causing 20% segment decline.
    • Bitcoin holdings valued over $1 billion as BTC hits $93,000.
    • Tesla holds 11,509 BTC with no transactions this quarter.

    Tesla has reaffirmed its strategic bet on Bitcoin despite disappointing quarterly earnings, a plunging stock price, and slowing electric vehicle sales.

    As of March 31, 2025, the company holds 11,509 Bitcoin, currently valued at just over $1 billion after a 6% rise in the cryptocurrency’s price to $93,000.

    This development comes at a time when Tesla is under pressure from shareholders following a 41% decline in its stock price this year and growing scrutiny around CEO Elon Musk’s political involvement.

    Revenue down, deliveries slump

    Tesla’s Q1 2025 revenue reached $19.34 billion, falling short of Wall Street’s projection of $21.37 billion.

    The shortfall is largely tied to the company’s main business—electric vehicles—which saw a 13% drop in deliveries and a 16% dip in production.

    This led to a 20% year-over-year decline in revenue from its core segment.

    Tesla’s declining delivery numbers mirror broader industry challenges, but some of the headwinds are unique to the company.

    Ongoing protests and concerns around Musk’s dual focus—spanning political appointments and social media commentary—have amplified investor unease.

    Despite this, Tesla made no changes to its Bitcoin position during the quarter, signalling a clear intention to maintain it as a long-term asset.

    Bitcoin strategy remains unchanged

    Tesla’s current holding of 11,509 BTC was first acquired in February 2021, with about 75% of it sold off in July 2022.

    The remainder has been left untouched.

    At the end of 2024, this stash was worth approximately $1.076 billion. By the close of Q1 2025, Bitcoin’s 12% decline had reduced the value to around $951 million.

    However, with Bitcoin prices rebounding to $93,000, the portfolio’s worth has climbed back above the $1 billion mark.

    New rules introduced by the Financial Accounting Standards Board (FASB) require companies to mark their digital asset holdings to market value at the end of each quarter.

    Under this regime, Tesla previously recorded a $600 million unrealised gain in Q4 2024 due to Bitcoin’s rally.

    Tesla’s decision not to buy or sell any Bitcoin in Q1 2025 signals a “HODL” stance—mirroring the strategy of other corporate holders like Strategy and Metaplanet, which also treat Bitcoin as a hedge or strategic reserve.

    Musk shifts from DOGE to Tesla

    Elon Musk, whose support for Dogecoin (DOGE) has frequently made headlines, announced plans to scale back his involvement with the meme coin.

    He said his time allocation would shift in May 2025 as DOGE operations become more self-sufficient.

    This renewed focus on Tesla comes as analysts call for urgent strategic moves.

    Dan Ives of Wedbush labelled the company’s situation a “code red,” suggesting that Tesla may need to rethink parts of its financial strategy, including how it handles its Bitcoin holdings, if current challenges continue.

    Meanwhile, BeInCrypto forecasts that crypto markets will remain unstable until mid-May due to global economic uncertainty and trade pressures.

    However, the broader outlook for digital assets, especially Bitcoin, is more bullish for the second half of the year.

    Analysts expect a rebound driven by post-halving effects, institutional buying, and regulatory clarity in the US.

    As Tesla navigates financial turbulence, its firm stance on Bitcoin indicates that the cryptocurrency is now more than just a side bet—it’s part of a calculated strategy.

    Whether that strategy pays off in Q2 and beyond may depend as much on Musk’s leadership as on Bitcoin’s next move.

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  • Arkham: Tesla still owns $780m in Bitcoin following wallet movement

    Arkham: Tesla still owns $780m in Bitcoin following wallet movement

    • Tesla has split the 11,509 Bitcoin across seven wallets
    • Arkham Intelligence said some have speculated that the move was to a crypto custodian
    • Tesla remains the third largest publicly traded Bitcoin company being MicroStrategy and Marathon Digital Holdings

    Tesla still owns 11,509 Bitcoin despite the wallet movement last week, according to a blockchain analytics company.

    In a post on X, Arkham Intelligence said:

    “We believe that the Tesla wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla. Tesla moved their entire balance of 11,509 BTC ($776.9M) to new wallets.”

    Arkham noted that Tesla split the 11,509 Bitcoin into seven wallets, with the largest wallet holding 1Fnhp – 2109.3 BTC ($142.2M).

    “Some have speculated that this is movement to a custodian, for example to secure a loan against the BTC,” said Arkham.

    Third largest publicly traded Bitcoin holder

    Tesla’s Bitcoin transfers mark the first time the electric car company has interacted with its crypto wallet since 2022 when it initially sold off a significant portion of its holdings.

    At its height, Tesla owned around 43,000 Bitcoin after it invested $1.5 billion in the crypto asset in February 2021, according to data from BitcoinTreasuries. This resulted in the sale of $272 million worth of Bitcoin in the first quarter of 2021, creating a profit of $128 million.

    By the second quarter of 2022, Tesla sold another $936 million in Bitcoin, generating $64 million in gains as the market experienced volatility.

    With the recent transfers, some feared this would lead to a market dump. Tesla is expected to conduct its third-quarter earnings call scheduled on October 23 where it may reveal its plans for its Bitcoin.

    To date, Tesla remains the third largest holder of Bitcoin among publicly traded companies. It trails behind MicroStrategy and Marathon Digital Holdings.

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  • Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses

    Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses

    Tesla transfers Bitcoin worth $770M to new addresses
    • Tesla relocated 11,509 bitcoins, valued at $770 million, to new addresses.
    • This marks Tesla’s first Bitcoin transaction since selling most holdings in 2022.
    • Tesla remains the third-largest Bitcoin holder among public companies after MicroStrategy.

    Tesla, the electric vehicle giant led by Elon Musk, has recently relocated its entire Bitcoin (BTC) treasury, consisting of 11,509 bitcoins valued at approximately $770 million, to multiple new addresses.

    This significant move was reported by analytics firm Arkham Research, which tracked the on-chain data associated with the transactions.

    First time Tesla is touching its Bitcoin stockpile

    The transfer of bitcoins marks Tesla’s first interaction with its crypto wallets since 2022 when the company sold off the majority of its holdings.

    The series of transactions occurred within a single hour and was preceded by six test transactions, indicating a strategic approach to the relocation.

    At its peak, Tesla held around 43,000 bitcoins, but according to the latest quarterly report, the company reportedly had about 9,720 BTC, worth roughly $650 million as of October 15.

    Arkham estimates that Tesla still holds 11,509 bitcoins across 68 addresses, reflecting a significant adjustment in its cryptocurrency strategy.

    Tesla’s past dealings with Bitcoin have been noteworthy. In early 2021, the company made headlines with a monumental $1.5 billion investment in the cryptocurrency, followed by the sale of $272 million worth of bitcoin in the first quarter of 2021, resulting in a profit of $128 million.

    By the second quarter of 2022, Tesla sold another $936 million in Bitcoin, garnering $64 million in gains as the market experienced volatility.

    Despite these transactions, the recent move to new addresses raises questions about Tesla’s future plans for its Bitcoin holdings. Industry speculation suggests that the company might be preparing for further sales, although no official statements have clarified the intent behind the recent transfer.

    As of now, Tesla remains the third-largest holder of Bitcoin among publicly traded companies, trailing behind MicroStrategy and Marathon Digital Holdings (MARA).

    Additionally, Musk’s other company, SpaceX, is estimated to hold around 8,285 bitcoins, further emphasizing the significant role cryptocurrency plays in the operations of Musk’s enterprises.

    Notably, Tesla continues to accept BTC payments for vehicle purchases, signalling its ongoing engagement with the cryptocurrency landscape.

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  • Tesla saw a net loss of $140 million on its Bitcoin in 2022

    Tesla saw a net loss of $140 million on its Bitcoin in 2022

    • Tesla recorded gains of $64 million and impairment loss of $204 million.
    • The company has revealed it sold 75% of its Bitcoin holdings, and held BTC worth about $184 million as of 31 December 2022.
    • The electric vehicle maker bought Bitcoin worth $1.5 billion in 2021.

    Tesla has revealed that the company sold most of the Bitcoin it purchased in 2021, and suffered a significant loss on the digital assets it currently holds during the 2022 crypto crash.

    In its Form 10-K filing with the US Securities and Exchange Commission (SEC) on Tuesday, 31 January, Tesla disclosed that it gained $64 million from its digital assets holdings when converting them into fiat currency. 

    However, according to the filing, the electric car maker’s Bitcoin bet also included a $204 million impairment loss for the year ending 31 December 2022. 

    All the gains recorded during the year were offset by the net impairment loss, which resulted from Tesla’s move to restructure its operations around the asset. This means the company reported a net loss of $140 million on its crypto trading in 2022. 

    “During the years ended December 31, 2022 and 2021, we recorded $204 million and $101 million of impairment losses on such digital assets, respectively. During the years ended December 31, 2022 and 2021, we realized gains of $64 million and $128 million, respectively, in connection with converting our holdings of digital assets into fiat currency,” the company reported.

    Tesla has sold 75% of its Bitcoin

    Elon Musk’s company revealed that it received or purchased an “immaterial amount” of crypto last year. The tech giant plashed $1.5 billion when buying Bitcoin in 2021. 

    As of 31 December, 2022, Tesla had sold roughly 75% of its Bitcoin. Per the filing, that left the company with around $184 million worth of digital assets as of the end of last year, down from $1.26 billion at the end of 2021.

    While the fair market value BTC held as at 31 December 2021 was close to $2 billion (after Bitcoin price soared to highs of $69,000), the company’s total crypto holdings at the end of 2022 had a fair market value of approximately $191 million.

    Notably though, that value could be much high given the price of Bitcoin has soared nearly 40% year-to-date. The company’s stock (think the Bitcoin vs. Tesla stock comparison) has also soared over the past 30 days, with TSLA up nearly 56% YTD on Tuesday morning.

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  • DOGE might be added in the Tesla phone app as payment options

    DOGE might be added in the Tesla phone app as payment options

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