Tesla's (TSLA) bitcoin holdings remained flat during the fourth quarter of 2025, continuing at 11,509 coins.
The value of that stack, though, declined markedly as the price of bitcoin tumbled from roughly $114,000 to $88,000 during the final three months of the year.
That decline forced Tesla to book an after-tax impairment loss of about $239 million on its digital asset holdings, according to the company’s just-released fourth-quarter earnings report.
Led by Elon Musk, Tesla in February 2021 disclosed ownership of 43,200 bitcoin, then worth about $1.7 billion. Testing the waters for liquidity, the company shortly afterward unloaded a small portion of that, but then — losing their nerve at about the worst time possible — Musk and team sold about 75% of the company stack at fairly close to bitcoin's 2022 bear-market bottom.
Holdings have remained relatively stable since that 2022 sale.
For the fourth quarter, Tesla reported revenue of $24.9 billion, shy of estimates for $25.1 billion. Adjusted earnings per share of $0.50 topped the consensus forecast of $0.45.
TSLA was higher by 3.4% in after hours trading.