[DigitalToday reporter Jinju Hong (홍진주)] Tesla kept its bitcoin (BTC) holdings unchanged in the first quarter of 2026, but reflected large impairment losses due to the price decline.

On April 22 local time, blockchain media outlet CoinDesk reported Tesla recorded an after-tax impairment loss of $173 million on its digital asset holdings in its first-quarter earnings report.

The loss was driven more by bitcoin’s price decline than by any change in the amount held. The value of Tesla’s bitcoin fell as the price slipped from about $90,000 at the start of the year to about $68,000 at the end of March. The company kept its existing holdings without reducing or increasing its bitcoin reserves during the quarter.

Markets focused on the fact that Tesla maintained its holding strategy while also recognising losses. Despite the digital asset losses, Tesla’s overall results were mixed. First-quarter revenue was $22.39 billion, below the market estimate of $22.71 billion, but earnings per share (EPS) of $0.41 beat the estimate of $0.37. Tesla shares rose about 4 percent in after-hours trade on the results.

Tesla’s bitcoin holding strategy has continued since 2021. The company first bought 43,200 BTC in February 2021 after investing about $1.5 billion, and has since adjusted its holdings by selling some of the coins. In July 2022, when a bearish market persisted, it reduced holdings to 9,720 BTC, and it has maintained the current level of 11,509 BTC after a small purchase in January 2025.

Keeping the holdings unchanged this quarter is interpreted as a determination to maintain its existing position regardless of short-term price fluctuations. It also again showed that swings in digital asset prices can directly affect corporate results.

Markets are watching how future bitcoin price moves will affect Tesla’s results. That is because the company’s digital asset holding strategy, alongside the performance of its auto business, is increasingly likely to be a key factor in quarterly earnings volatility.