Elon Musk’s Companies Treat Bitcoin Like Digital Gold, Even as It Bites into Profits
While many companies might need offered into a 23% Bitcoin worth slide, Elon Musk’s Tesla and SpaceX stood agency in This autumn 2025—no buys, no sells.
Tesla launched its fourth-quarter and full-year 2025 monetary outcomes after market shut on Wednesday, January 28, 2026. This included the earnings replace deck on ir.tesla.com, adopted by an earnings name/webcast with Elon Musk and CFO Vaibhav Taneja, who mentioned outcomes, Bitcoin impairment, autonomy plans, and extra.
Tesla and SpaceX Stand Firm on Bitcoin as a Long-Term Treasury Asset
Tesla’s 11,509 BTC stack (unchanged since prior periods) took a $239 million after-tax mark-to-market impairment as Bitcoin fell from roughly $114,000 to $88,000–$89,000.
Yet the corporate framed this as one minor headwind amongst a number of, including tariffs and FX effects, offset by file vitality margins and EPS beats.
This is a stark distinction to Tesla’s 2022 panic-selling, when roughly 75% of its Bitcoin holdings have been offloaded close to bear-market lows.
Today, the corporate’s method is deliberate, treating Bitcoin as a long-term strategic reserve on the steadiness sheet. Relative to Tesla’s $44 billion+ money pile, the BTC holdings are small, however symbolically highly effective, signaling perception in shortage, upside, and multi-year worth.
SpaceX, whose IPO is in the works, mirrors this technique, holding an estimated 8,200–8,285 BTC. The firm has not offered meaningfully in over three years, and inside transfers look like pockets upgrades or consolidations somewhat than liquidations.
At present costs, this stack is price roughly $730 million, quietly creating one of many largest non-institutional Bitcoin exposures exterior pure crypto corporations.
This deliberate stance stands in distinction to broader company habits in 2025, when many public corporations trimmed or exited crypto positions amid volatility.
Tesla’s impairment is solely non-cash GAAP accounting noise, that means earnings might rebound sharply if Bitcoin recovers.
Amid Tesla’s pivot to AI, robotics, and vitality, and SpaceX’s escalating valuation (anticipated $1.5 trillion+ IPO in 2026), Bitcoin stays a small however ideological piece of a multi-trillion-dollar empire.
Musk’s corporations are signaling a rising thesis that Bitcoin is digital gold for forward-thinking company treasuries, not speculative buying and selling fodder.
The $239 million mark-to-market loss is much less a setback than a sign of conviction. Perhaps, for them, Bitcoin just isn’t a facet guess.
Rather, it could be embedded within the lengthy sport, a strategic hedge and treasury asset that might affect wider company adoption if the pioneer crypto stabilizes or surges once more.
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