Tesla Made $80M in Profit on Bitcoin Holdings in Q3, Didn’t Sell Any Crypto

Bitcoin Magazine

Tesla Made $80M in Profit on Bitcoin Holdings in Q3, Didn’t Sell Any Crypto

Elon Musk’s Tesla reported an $80 million gain on its Bitcoin holdings in the third quarter of 2025, benefiting from the crypto market’s rebound without making any new trades.

According to Tesla’s Q3 filing released on Wednesday, the electric vehicle maker continues to hold 11,509 BTC — valued at roughly $1.31 billion as of September 30, up from $1.23 billion in Q2. 

The increase came entirely from Bitcoin’s price appreciation, not from additional purchases or sales. Under new fair-value accounting rules, Tesla now reports digital assets at current market prices, allowing it to record crypto gains or losses each quarter. 

The company hasn’t changed its position since early 2022, when it sold a small portion “to test liquidity” before classifying Bitcoin as a strategic treasury asset.

Beyond crypto, Tesla’s financial results showed mixed signals. Revenue rose to $25.18 billion, up from last year, but net income dropped 37% year-on-year to $1.37 billion, or $0.39 per share, as rising R&D and AI spending drove a 50% increase in operating costs.

Elon Musk publicly addressed bitcoin for the first time in three years recently, commenting on an X post linking rising gold, silver, and bitcoin prices to global monetary “debasement” fueled by AI spending. 

Musk agreed, saying bitcoin is energy-based, noting that while fiat currency can be faked, energy cannot. 

Tesla remains the 11th-largest corporate Bitcoin holder, behind the likes Strategy, Galaxy Digital, Block, and Coinbase, according to BitcoinTreasuries.net.

Elon Musk’s history with Bitcoin

Tesla famously purchased $1.5 billion worth of Bitcoin in early 2021 and announced plans to accept BTC for vehicle payments.

Back in 2021, Musk said, “I think Bitcoin is a good thing. I am a supporter of Bitcoin. I am late to the party but a supporter. I think Bitcoin is on the verge of getting broad acceptance by conventional finance people.”

Within months, however, Musk reversed course, citing environmental concerns about Bitcoin mining’s heavy reliance on fossil fuels.

“Tesla has suspended vehicle purchases using Bitcoin,” he said at the time, adding that payments would resume once mining used “more sustainable energy.” In mid-2022, Tesla sold roughly 75% of its Bitcoin holdings — near the bottom of the market’s decline.

At the time of writing, Tesla (TSLA) is trading at $434.33 a share. The stock is up roughly 75% over the last six months.

This post Tesla Made $80M in Profit on Bitcoin Holdings in Q3, Didn’t Sell Any Crypto first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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