Tesla Sold 75% of Its Bitcoin at $29,000. Bitcoin Is Now $84,000.
Tesla liquidated the bulk of its crypto holdings at a price that looked reasonable in 2022, but the years since have turned that call into one of the most scrutinized treasury decisions in recent memory. Was it reckless, or just…
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In the second quarter of 2022, Tesla (NASDAQ: TSLA | TSLA Price Prediction) sold approximately 75% of its Bitcoin (CRYPTO: BTC) for $936 million, when Bitcoin was trading around $29,000. Fast forward to October 7, 2026, and Bitcoin is priced near $84,000—nearly three times its previous value. This substantial increase makes Tesla’s Bitcoin sale one of the decade’s most significant financial missteps.
However, investors judging Tesla’s decision today have the benefit of hindsight—an insight the company didn’t have in 2022. So, did Tesla make an error, or was their decision a prudent move that simply didn’t age well?
Why Did Tesla Sell Its Bitcoin in 2022?
Tesla originally purchased $1.5 billion worth of Bitcoin in early 2021. A year later, in 2022, COVID lockdowns in China significantly affected its Shanghai factory, which remained shut for several weeks. Elon Musk told investors Tesla was uncertain when the lockdowns would ease.
To ensure financial stability during this unpredictable period, the company decided to sell most of its Bitcoin to “maximize our cash position,” emphasizing that the sale was not a negative assessment of Bitcoin itself.
A corporate treasury is crucial for managing a company’s financial needs, covering expenses like payroll, suppliers, and new investments. Cash is stable and maintains its value week to week, while Bitcoin is known for its volatility, which can swing by 20% in a month. By converting a volatile asset into cash, Tesla ensured it had the funds necessary to navigate the uncertainties brought on by the lockdowns.
Tesla continues to manage its treasury with an eye on spending. In its July 22, 2026, earnings call, Musk indicated that Tesla was willing to be “a little less capital efficient” if it meant advancing projects more quickly.
How Much Is the Bitcoin Tesla Sold Worth Today?
Since Tesla sold its Bitcoin near $29,000, the cryptocurrency has surged by about 190%. At today’s price, the Bitcoins Tesla converted into $936 million would now be worth approximately $2.7 billion—an increase of roughly $1.8 billion.
However, this figure is speculative and assumes Tesla could have held onto its Bitcoin through all fluctuations. Just months after the sale, Bitcoin fell below $16,000 in November 2022. If Tesla had retained billions in Bitcoin during that downturn, it would have faced significant losses, especially while its factories were still trying to recover.
So the estimated $1.8 billion gap represents the opportunity cost rather than a reflection of Tesla’s foresight in making the sale. If Bitcoin had continued to decline after 2022, this decision could very well have been viewed as a careful risk-management strategy—a challenge any company holding Bitcoin on its balance sheet faces.
Tesla Still Holds 11,509 Bitcoin From Its 2021 Purchase
Despite the sale, Tesla retained a significant portion of its crypto assets. As of March 31, 2026, the company’s filings showed that it still held 11,509 Bitcoin, which it initially acquired for $386 million. Notably, Tesla recorded no further Bitcoin sales in the second quarter of 2026.
The value of Tesla’s remaining Bitcoin has also grown. As of June 30, 2026, these digital assets were valued at $674 million, even after a $112 million paper loss that quarter. At $84,000 per coin, Tesla’s remaining Bitcoin is now worth around $970 million, about 2.5 times its initial purchase price.
Even after selling 75% of its Bitcoin, Tesla’s holdings still place it among the top public companies with substantial Bitcoin investments.
Was the Tesla Bitcoin Sale a Mistake?
In summary, Tesla’s decision to sell a significant portion of Bitcoin in 2022 was a reasonable strategy given the circumstances—though it cost the company about $1.8 billion in hindsight. The need for cash amid factory shutdowns warranted their choice, and by retaining 11,509 Bitcoin valued at around $970 million, Tesla still benefits from the robust Bitcoin rally.
Looking ahead, Tesla’s next quarterly filing will show whether the company remains committed to holding Bitcoin. A decrease in its Bitcoin count would indicate sales, whereas an increase might suggest renewed purchasing in the crypto market.
Contact [email protected] for any questions or corrections.
Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
