Tesla's latest quarterly financial disclosure reveals a substantial $239 million post-tax impairment loss on its Bitcoin holdings, marking a significant moment in corporate cryptocurrency accounting. The electric vehicle manufacturer maintained its position of 11,509 BTC throughout the fourth quarter of 2025, demonstrating a long-term approach despite temporary valuation pressures.
Financial analysts clarified that the reported loss represents an unrealized impairment under Generally Accepted Accounting Principles (GAAP), rather than realized losses from asset sales. According to these standards, companies must recognize impairment when cryptocurrency holdings drop below their carrying value, even without actual transactions. Tesla's cryptocurrency strategy has evolved since its initial $1.5 billion Bitcoin purchase in February 2021, having sold approximately 75% of its holdings in 2022. The company currently maintains its 11,509 BTC, worth approximately $480 million at recent market prices, as a strategic reserve.
In a contrasting corporate move, Strive, Inc. has significantly boosted its Bitcoin treasury following a highly successful follow-on stock offering. The Nasdaq-listed company closed an upsized offering of 1.32 million shares at $90 each, attracting over $600 million in demand far exceeding its initial $150 million target. Strive used part of the proceeds to retire $90 million of its $100 million Semler Convertible Notes and fully pay off a $20 million loan with Coinbase Credit Inc., leaving all Bitcoin holdings unencumbered.
Consequently, Strive acquired 333.89 Bitcoin at an average price of $89,851, bringing its total holdings to 13,131.82 Bitcoin as of January 28, 2026. This makes Strive the tenth-largest corporate holder of Bitcoin globally. CEO Matt Cole emphasized the company's "leading execution in managing a world-class, Bitcoin-powered treasury," while Chief Investment Officer Ben Werkman noted the offering reflects "robust and growing investor demand for digital credit." The company's quarter-to-date Bitcoin yield stands at 21.17%.
