Elon Musk’s Companies Treat Bitcoin Like Digital Gold, Even as It Bites into Profits
Tesla and SpaceX held their Bitcoin despite a Q4 price drop, viewing it as a long-term strategic asset.Summary
Despite a 23% Bitcoin price slide in Q4 2025, Elon Musk's Tesla and SpaceX maintained their holdings, reporting no buys or sells. Tesla recorded a $239 million after-tax mark-to-market impairment due to Bitcoin falling from $114,000 to around $88,000–$89,000, though this was framed as minor compared to other financial factors. This contrasts sharply with Tesla's 2022 selling spree; now, the company treats Bitcoin as a long-term strategic reserve. SpaceX mirrors this strategy, holding an estimated 8,200–8,285 BTC, signaling conviction. The companies are signaling a thesis that Bitcoin functions as digital gold for corporate treasuries, viewing the non-cash impairment as a signal of long-term belief rather than a trading setback.
(Source：BeInCrypto)