Tesla's Bitcoin Stash Inches Closer to $1 Billion Mark

Tesla's Bitcoin stash is nearing the $1 billion milestone, currently valued at approximately $994.9 million. This comes as a result of the recent sharp rebound in Bitcoin, which has lifted Tesla's long-held position by around $122.6 million this week alone.

The company holds 11,509 Bitcoins, and the market value of its existing holdings has climbed significantly due to the 14% gain in Bitcoin over the past week.

This highlights how quickly a relatively small corporate Bitcoin position can become material when the underlying asset makes a double-digit move. CoinMarketCap research points to a powerful short squeeze behind the recent move, with more than $500 million in bearish positions liquidated as Bitcoin pushed higher.