Tesla bitcoin holdings unchanged for four years, valuation nears $1 billion

[DigitalToday reporter Jinju Hong (홍진주)] Tesla’s bitcoin holdings have moved close to $1 billion as bitcoin prices surge, blockchain media outlet DeCrypt reported on Sept. 23 local time. Tesla currently holds 11,509 BTC, with a market value of about $994.9 million.

The key point is that the valuation of its holdings jumped sharply without any additional purchases. With bitcoin up about 14 percent over the past week, the value of Tesla’s holdings rose about $122.6 million over the same period. The current valuation is about $5.1 million short of $1 billion.

On-chain data firm Arkham said in a post on X, formerly Twitter, that Tesla holds 11,509 bitcoin and gained $122.6 million as BTC rose 14 percent this week. It added that the company has maintained the same amount for four years without moving a single coin, and said the holdings are now close to $1 billion.

The increase is different from a cash inflow or realised profit. Tesla did not buy additional bitcoin, nor did it sell to lock in gains. With the number of coins unchanged, the market price rose and the dollar-denominated valuation increased.

Tesla entered bitcoin in earnest in early 2021. The company disclosed at the time that it had invested $1.5 billion in bitcoin, and it also once allowed bitcoin payments for vehicle purchases. Support for payments was later suspended that year.