Tesla's Bitcoin Holdings Close In on Billion-Dollar Mark

Tesla's Bitcoin holdings have surged past $994 million following a 14% weekly rally in the cryptocurrency. The company holds 11,509 BTC, and with each dollar change in price, its position moves by around $11.51 million.

The increase is not due to new purchases or realized profits but rather the higher market value of Bitcoin. Tesla first invested in Bitcoin in early 2021 with a $1.5 billion investment before reducing its holdings in 2022.

As a result, the company's remaining crypto reserve is now close to reaching a valuation of $1 billion, sitting just $5.1 million below it.