Tesla Now Holds 11,509 Bitcoin, Becomes the 7th Largest Institutional Holder
Electric car giant Tesla (TSLA) now holds 11,509 Bitcoin (BTC), making it the seventh largest institutional holder of the world’s leading cryptocurrency, according to data from Bitcoin Treasuries as of Friday, 24 May.
The company’s BTC holdings are currently valued at approximately US$1.25 billion, boosted by Bitcoin’s recent price rally, which pushed it to a high of around US$110,000.
Tesla's crypto strategy, initiated in early 2021, continues to position the company as one of the most prominent corporate supporters of digital assets. Back then, Tesla made headlines by investing US$1.5 billion into Bitcoin, acquiring an initial batch of around 43,200 BTC. While the company has since sold portions of its holdings, it has maintained a sizable amount on its balance sheet.
Despite the often volatile nature of the crypto market, Tesla’s commitment to holding Bitcoin shows its long-term belief in digital assets. The company has weathered dramatic price swings, choosing to retain its holdings even during downturns, signalling to investors that panic selling is not the strategy they support.
Tesla’s pro-Bitcoin stance is in line with CEO Elon Musk’s long-standing interest in cryptocurrency. Musk has previously hinted at the use of Bitcoin and other digital assets as part of Tesla’s future transaction ecosystem, although regulatory and environmental concerns have temporarily cooled those ambitions.
At the time of writing, Bitcoin is trading at US$108,262, marking a 2.46% dip in the past 24 hours. However, market analysts suggest the broader trend remains bullish, especially with continued institutional interest and ETF inflows.
With this move, Tesla joins the ranks of other major companies like MicroStrategy and Galaxy Digital, who have been steadily increasing their BTC portfolios. The ongoing institutional embrace of crypto is seen by many as a sign of growing maturity in the market, with corporations viewing Bitcoin as a long-term hedge against inflation and macroeconomic uncertainty.
As the digital asset market evolves, all eyes are on how Tesla and similar institutions navigate regulatory developments and market fluctuations—whether to hold, buy more, or adapt their strategies.
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