Tesla’s involvement with Bitcoin has been marked by significant investments and strategic decisions:

1. Initial Investment (February 2021): Tesla announced a $1.5 billion purchase of Bitcoin, aiming to diversify its cash holdings and maximize returns.

2. Acceptance and Suspension of Bitcoin Payments (March–May 2021): In March 2021, Tesla began accepting Bitcoin as payment for its vehicles. However, by May, the company suspended this option due to environmental concerns related to Bitcoin mining.

3. Partial Sale of Holdings (July 2022): Tesla sold approximately 75% of its Bitcoin holdings, generating $936 million in proceeds. This decision was influenced by uncertainties related to COVID-19 shutdowns in China.

4. Recent Developments (October 2024): In October 2024, Tesla moved around $600 million worth of Bitcoin to new wallets, sparking speculation about potential strategic shifts.

As of November 2024, Tesla holds approximately 10,725 Bitcoins, valued at over $1 billion amid a rising market.