Tesla Holds $951 Million in Bitcoin, Bases Value on Market Price
As of March 31, 2025, Tesla still holds $951 million in digital assets, primarily in Bitcoin. This figure represents a decrease from the $1.076 billion reported at the end of December 2024, but it does not reflect any sales. According to Arkham Intelligence data, the automaker did not conduct any transactions during the quarter. The change in value is solely due to the decline in the price of Bitcoin during this period.
According to Bitcoin Treasuries, Tesla currently holds 11,509 BTC on its balance sheet, making the company one of the largest institutional holders of Bitcoin in the world.
A New Accounting Framework for Digital Assets
The presentation of these results comes in a changing regulatory context. The Financial Accounting Standards Board (FASB), the American organization responsible for accounting standards, now requires companies to account for their digital assets using the mark-to-market method. Essentially, this means that the value recorded in the accounts must be reassessed at the end of each quarter based on the market price, which makes financial statements more sensitive to cryptocurrency fluctuations.
For Tesla, this implies that the devaluation of its bitcoins directly impacts its balance sheet, even if no movement is made. This change increases accounting volatility but improves transparency with shareholders.
Disappointing Financial Results for Tesla
Despite the stability of its digital holdings, Tesla falls short operationally. The company reported a revenue of $19.34 billion for the first quarter of 2025, below analysts’ forecasts of $21.37 billion. This shortfall highlights the ongoing challenges for the automaker, including declining demand and increased competitive pressure, particularly in the Chinese market.
However, this underperformance did not prevent the TSLA stock from rising over 2% in after-hours trading, now reaching nearly a 7% increase in pre-market, indicating that investors may have anticipated worse or value the resilience factor of the Bitcoin portfolio.
A Resolute Crypto Position
Tesla’s decision to maintain its exposure to Bitcoin, despite the asset’s volatility and recent economic underperformance, confirms Elon Musk’s strategy of long-term integration of cryptocurrencies into the company’s financial strategy. While the company has not made any additional purchases, its stance remains that of a committed player, observing the markets without succumbing to panic.
