Tesla, led by CEO Elon Musk, attracted attention in 2021 with its Bitcoin investments, becoming a significant institutional player in the cryptocurrency market. The company’s Bitcoin purchase and sale history, as well as its current holdings, are closely monitored by investors and crypto enthusiasts. 

Tesla  Bitcoin Investment and Sales 

In February 2021, Tesla made a strong entry into the crypto market by purchasing $1.5 billion worth of Bitcoin. In April of the same year, it sold 10% of these holdings, making approximately $128 million in profit. However, in May 2021, the company suspended vehicle sales using Bitcoin due to environmental concerns. Then, in July 2022, Tesla sold 75% of its Bitcoin holdings, raising $936 million in cash. After these sales, Tesla held approximately 10,725 BTC. 

How Much Bitcoin Does Tesla Hold? 

As of 2025, Tesla holds around 11,509 BTC. The current value of these assets fluctuates with Bitcoin’s price but is approximately $1.25 billion. The company continues to hold its crypto assets as part of a long-term reserve strategy. Additionally, Tesla uses Coinbase Prime Custody as the custody service for its large holdings. 

Top Companies Holding Bitcoin 

Among companies holding Bitcoin on their balance sheets, the largest holders create a notable ranking. According to CoinGecko’s 2025 data, the top 5 publicly traded companies with the most Bitcoin are: 

1. MicroStrategy Inc. (NASDAQ: MSTR)
   BTC Amount: 506,137
   Estimated Value: $44.23 billion
   The company has been making aggressive Bitcoin purchases since 2020, considering them as a long-term strategic reserve. 
2. Marathon Digital Holdings (NASDAQ: MARA) 
   BTC Amount: 26,842
   Estimated Value: $2.35 billion
   The company holds Bitcoin earned from its mining activities. 
3. Galaxy Digital Holdings (TSE: GLXY) 
   BTC Amount: 15,449
   Estimated Value: $1.35 billion
   Operating in crypto investment and asset management, Galaxy also holds significant Bitcoin reserves. 
4. Tesla, Inc. (NASDAQ: TSLA) 
   BTC Amount: 11,509
   Estimated Value: $1.00 billion
   Despite selling some due to environmental policies, Tesla still holds the majority of its Bitcoin. 
5. Coinbase Global Inc. (NASDAQ: COIN) 
   BTC Amount: 9,183
   Estimated Value: $802.5 million
   One of the largest crypto exchanges in the world, Coinbase also holds a significant amount of Bitcoin on its balance sheet. 

Japan-based Metaplanet has adopted MicroStrategy’s Bitcoin strategy, actively purchasing Bitcoin. As of May 2025, the company has reached 7,800 BTC, achieving 78% of its 10,000 BTC target. Its latest purchase of 1,004 BTC coincided with a 12.6% rise in its shares traded on the Tokyo Stock Exchange under the ticker 3350.T. This reflects investors’ positive response to its crypto asset strategy. 

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“If you’re mining Bitcoin, you already understand why this asset is valuable long-term,” Glover stated. “You don’t want to sell it.”

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This debt-based approach is similar to strategies used by companies like MicroStrategy, which raise capital through debt and equity to acquire BTC and profit from the currency divergence.

Rising Competition, Falling Margins

The BTC mining hashprice, a key profitability metric, has plummeted due to increasing network difficulty. As more powerful machines are deployed, costs rise and profit margins shrink.

Adding to the pressure, U.S. trade tariffs on tech imports are inflating prices of essential mining equipment like ASICs. These conditions threaten the viability of smaller operators in the sector.

In March 2025, miners collectively sold 40% of their mined supply—marking a trend reversal since the April 2024 halving and the highest monthly liquidation rate since October 2024.

BTC-Backed Loans May Be A Lifeline

In such a climate, Bitcoin-backed loans could be a strategic lifeline. They offer operational liquidity without sacrificing long-term asset value.

As Glover noted, “If you believe BTC will rise, why sell it now and lose future upside?”

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