š If Tesla Hadn't Sold Bitcoin in 2022, How Much Profit Would They Have Made?
In early 2021, Tesla invested approximately $1.5āÆbillion in Bitcoin, acquiring around 43,000ā47,000 BTC at an average price near $31,000ā$32,000 per coin.
By midā2022, Tesla sold about 75% of its BTC holdings (~35,000 BTC), realizing proceeds of $936āÆmillion, when BTC traded near $20,000 per coin.
As of midā2025, Bitcoin is trading around $115,000ā$118,000, and Teslaās remaining ~11,500 BTC is valued at about $1.2ā1.24āÆbillion.
š What if Tesla never sold?
If Tesla had held onto their full Bitcoin stake, its current value would be approximately $5āÆbillion.
Compared to the actual outcome (still holding ~$1.2B current value and realizing $936M proceeds), Tesla likely missed about $3.5āÆbillion in unrealized gains.
Analysts estimate the missed opportunity could be as high as $4āÆbillion, depending on precise coin counts and timing.
š Summary Table
Metric Actual (soldāÆ75%) Hypothetical (never sold)
Bitcoin investment ~$1.5āÆbillion ~$1.5āÆbillion
BTC acquired ~43kā47k BTC ~43kā47k BTC
Proceeds from sale ~$936āÆmillion (2022) $0 from sale
Current remaining value (2025) ~$1.2ā1.24āÆbillion ~$5āÆbillion total
Unrealized gain missed ā ~$3.5ā4āÆbillion
š¬ Bottom Line
Teslaās decision to liquidate most of its Bitcoin in midā2022 provided shortāterm liquidity and a modest $284 million crypto-related profit in Q2āÆ2025, helping offset weak auto sales.
However, at current Bitcoin prices (~$115ā118K), that move likely cost Tesla around $3.5 billion in potential gains.
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š§ Why It Matters
This case highlights how timing matters immensely when holding crypto as a treasury asset. Teslaās early exit during a downturn preserved capital but sacrificed massive upsideāillustrating the volatility and opportunity cost of corporate crypto strategies.