In a major display of corporate conviction, Elon Musk’s Tesla and SpaceX have maintained their Bitcoin holdings throughout a volatile fourth quarter of 2025. According to Tesla’s January 28, 2026, earnings report, the company held its 11,509 BTC stack steady, even as it absorbed a non-cash $239 million impairment charge due to Bitcoin’s price slide from $114,000 to the sub-$90,000 range.