Tesla confirms that there are no Bitcoin sales in Q1, despite market sales

Tesla kept 11,509 bitcoins intact for the first quarter of 2026 despite a brutal crypto market selloff, the company announced earnings today.

Bitcoin lost about 22 percent of its value in those three months, the steepest first-quarter decline in eight years, sending Tesla's holdings of the digital asset down from $1 billion to $786 million at the end of March.

The fall was caused by a mix of geopolitical tensions, a dovish stance from the Federal Reserve and a general risk-on sentiment that led to sharply negative investment returns in January and February.

In late April, Bitcoin recovered much of its decline. The digital asset was exchanged for $78,000, which increased Tesla's holdings to $900 million.

Elon Musk's electric vehicle maker bought 43,200 bitcoins for $1.5 billion in February 2021. In the year In 2022, the company sold 75% of its holdings in low-cost positions. The remaining 11,509 coins sit untouched since January 2025, a period that includes Bitcoin's rise past $126,000 in September 2025 and the fall through Q1 2026.

Tesla ranks eleventh of all public companies to have Bitcoin on their balance sheet, behind a strategy that makes Bitcoin stock the company's total.

Tesla's Q1 revenue rose 16% to $22 billion as free cash flow increased.

Tesla posted Q1 revenue of $22.38 billion, a 16 percent year-over-year increase, driven by a rise in automotive revenue to $16.2 billion and strong expansion in services and full self-driving registrations, which reached 1.28 million. Free cash flow rose to $1.4 billion, which was largely above expectations, while net income rose modestly to $477 million.

Despite these gains, Tesla's core EV business has shown signs of weakness, with production exceeding 408,000 units while deliveries of 358,023 vehicles fell short of expectations. This reflects softer demand and a growing reliance on pricing, services and software to support revenue.

While the performance was an improvement over last year, it lagged behind the company's last three quarters. Tesla is entering a capital-intensive phase with plans to spend $25 billion on AI and robotics by 2026, with management predicting negative cash flow going forward.