Key Takeaways
Did Tesla Sell Bitcoin in the Third Quarter?
No. Tesla retained its entire stack of 11,500 BTC through the third quarter of 2025, now valued at $1.315 billion.
What else stood out in Tesla’s report?
Stronger margins, record energy turnover [$3.22B]and $2.32 billion in net revenue show that Tesla’s financial health is improving even as it keeps its Bitcoin untouched.
Tesla’s latest Earnings report 3rd quarter 2025t, released on October 22, shows no Bitcoin sales or new purchases during the quarter.
Tesla’s Bitcoin holdings remained stable in the third quarter
The report revealed that the company still holds approximately 11,500 BTC, worth $1.315 billion. It rose from $1.235 billion in the second quarter, thanks to Bitcoin’s price increase rather than new acquisitions.
Tesla adopted new fair value accounting rules earlier this year, meaning its crypto holdings now reflect market prices.
The report also announced an $80 million gain on digital assets under ‘other income’, marking one of the company’s strongest quarters for BTC revaluation since 2021.
With its current holdings, Tesla becomes the eleventh largest corporate Bitcoin holder globally, behind Strategy, Galaxy Digital and Block, but ahead of major institutions such as Hut 8 Mining and Galaxy.
Earnings snapshot: Stronger margins and record energy sales
In addition to Bitcoin, Tesla’s quarterly report showed revenue of $27.35 billion and net profit of $2.32 billion, both above Wall Street expectations.
- Gross margin improved to 18.1%, compared to 17.5% in the second quarter.
- Free cash flow rose to $2.08 billion.
- The energy division posted record revenues of $3.22 billion, driven by demand for Megapack.
The company reaffirmed its target of 1.8 to 1.9 million vehicles by 2025 and highlighted continued progress in AI and Dojo training infrastructure.
SpaceX adds movement to Musk’s Bitcoin ecosystem
The report coincides with SpaceX’s on-chain activities earlier this week. Blockchain data from Arkham Intelligence showed that SpaceX moved $268.5 million worth of BTC to different wallets – the first major transaction since July.
Analysts described the move as part of routine government bond rebalancing, without any evidence of currency deposits or liquidation.
Together, SpaceX and Tesla control nearly 17,000 BTC, making Musk-linked entities among the most influential corporate Bitcoin holders in the world.
View of the market
Bitcoin was trading around $108,000 at the time of writing, down almost 1% in the past 24 hours. Traders could interpret both Tesla’s stable positions and SpaceX’s moves as signs of long-term confidence, rather than profit-taking.