Tesla Holds 11,509 BTC Untouched While Injecting $2 Billion Into SpaceX

In the first quarter of 2026, Tesla kept its 11,509 Bitcoin (BTC) position unchanged, despite a 22% drop in its carrying value to approximately $786 million, resulting in a $173 million fair value loss. Concurrently, the company injected $2 billion into SpaceX, converting its prior investment in xAI into a sub-1% stake in the private rocket company. This significant capital allocation towards SpaceX, alongside $1.2 billion in new debt, signals Tesla's strategic priority shift towards AI compute and chip supply, rather than further digital asset accumulation. The company's Bitcoin holdings have remained static for over three years since offloading a substantial portion in mid-2022. Tesla's Q1 earnings beat expectations, with EPS of $0.41 and revenue of $22.38 billion, partly due to warranty reserve releases and other accounting adjustments. The company emphasized its AI-forward strategy, detailing progress on its AI compute infrastructure, including the Cortex 2 training cluster and the development of its AI5 chip. Full Self-Driving (FSD) subscriptions also reached a record 1.28 million. However, the decision to maintain its Bitcoin holdings while heavily investing in AI and robotics infrastructure positions Tesla as a passive player in the public company treasury space compared to peers actively acquiring Bitcoin.

(Source：BeInCrypto)