Tesla Inc. filed its annual 10-K report with the U.S. Securities and Exchange Commission (SEC) on Jan. 29 for the fiscal year ended Dec. 31, 2024. In the filing, Tesla disclosed that it held 11,509 bitcoin, valued at $1.07 billion at year-end. This aligns with on-chain data from Arkham, a blockchain analytics firm tracking corporate bitcoin holdings.

Tesla’s bitcoin holdings. Source: 10-K filed with the SEC.

The electric car company’s bitcoin valuation reflected a $589 million unrealized gain, attributed to the implementation of new Financial Accounting Standards Board (FASB) guidelines, which now require companies to report digital assets at fair value. Previously, Tesla had only recorded impairments, including a $204 million write-down in 2022.

Data from blockchain analytics firm Arkham Intelligence concurs that Tesla holds 11,509 bitcoin, valued at approximately $1.119 billion as of writing. Arkham reported that these holdings were recently moved across seven new wallets, sparking speculation about a potential sale. However, further analysis confirmed these were internal transfers rather than liquidations.

Arkham’s data on Tesla’s bitcoin holdings. Source: Arkham Intelligence.

Tesla originally bought $1.5 billion worth of bitcoin in early 2021, citing its potential as a store of value and an alternative to cash reserves. The company briefly accepted BTC as payment but suspended it in May 2021 due to concerns over its environmental impact.

CEO Elon Musk has maintained a fluctuating stance on bitcoin, supporting its potential while emphasizing the need for cleaner mining practices. He has also disclosed that he personally owns bitcoin, along with ethereum (ETH) and dogecoin (DOGE), and that Spacex also owns bitcoin. While Tesla sold about 75% of its BTC holdings in 2022 for liquidity reasons, Musk stated the company was open to increasing its crypto holdings in the future, depending on market conditions.

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