Elon Musk's Tesla's (TSLA) bitcoin BTC$78,409.11 holdings were unchanged in the first quarter of 2026, with the company continuing to hold its 11,509 BTC stockpile. The company booked an after-tax impairment loss of $173 million on its digital asset holdings, according to its first quarter earnings report. The value of that stash declined as bitcoin fell from around $90,000 at the start of the year to roughly $68,000 by the end of March. Tesla reported better-than-expected earnings but missed on revenue. For the first quarter, the firm reported revenue of $22.39 billion, slightly below than analyst estimates of $22.71 billion. Earnings per share came in at $0.41, higher than consensus forecast of $0.37. TSLA stock was trading 4% higher in after-hours trading. Tesla initially bought bitcoin in February 2021, acquiring 43,200 BTC for roughly $1.5 billion. About a month later, the company sold around 4,320 BTC, roughly 10% of its position, to test market liquidity. By July 2022, amid the bear market, Tesla had cut its position to 9,720 BTC. A small increase in January 2025 brought holdings to 11,509 BTC, where they have remained since. Bitcoin is seeing a short squeeze dynamic and steady U.S. demand to support gains.