Tesla Bought $1.5 Billion in Bitcoin and Plans to Accept It for Payments

Tesla bought $1.5 billion in bitcoin in January, according to an SEC filing submitted Monday. The filing also said the company “expects to begin accepting bitcoin as a form of payment for our products in the near future” which it “may […]

article-image
share
  • Tesla has bought $1.5 billion of bitcoin and plans to accept the digital asset for future payments
  • The price of bitcoin broke its all time high Monday, punching above $43,000

Tesla bought $1.5 billion in bitcoin in January, according to an SEC filing submitted Monday.

The filing also said the company “expects to begin accepting bitcoin as a form of payment for our products in the near future” which it “may or may not liquidate upon receipt.”

Tesla CEO Elon Musk endorsed bitcoin last month on Clubhouse, saying he thinks it’s a “good thing” and that he would be open to being paid in bitcoin.

“I am a supporter of bitcoin,” he said. “I am late to the party but a supporter. I think bitcoin is on the verge of getting broad acceptance by conventional finance people.”

The move by Tesla follows that of Microstrategy and Square, who in the fall invested millions of their cash reserves into bitcoin. Microstrategy has since bought more, and CEO Michael Saylor has said it plans to continue accumulating. He also said holding bitcoin as a primary reserve asset is part of its corporate strategy.

Musk did not immediately reveal that the company had bought bitcoin or file a Form 8-K, which public companies tend to file when a significant event happens that could affect the stock price. The filing submitted Monday is a Form 10-K, an annual report of the company’s financial performance.

On Tuesday Musk tweeted that he’d be “off Twitter for a while,” then returned to the social media platform two days later, tweeting about the memecoin dogecoin.

The price of bitcoin rose above $43,000 early Monday morning.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /
article-image

Layer 2 network Taiko integrates Chainlink Data Streams to deliver reliable onchain market data for DeFi and institutions

by Blockworks /
article-image

The license will allow Bullish to operate in New York under strict digital asset rules

by Blockworks /
article-image

The derivatives giant expands crypto offerings with new Solana and XRP futures options, pending regulatory review

by Blockworks /
article-image

Nasdaq-listed firm to fund Solana token purchases and expand its blockchain-focused treasury strategy

by Blockworks /
article-image

The partnership deepens liquidity and lowers conversion costs as demand for regulated stablecoins grows worldwide

by Blockworks /