Bitcoin (BTC) traded fairly flat Thursday after a strong weekly rally that pushed the cryptocurrency just over $87,000 on Monday, lifting the value of Tesla's Bitcoin holdings to within striking distance of $1 billion.
Tesla holds 11,509 BTC, worth about $997.8 million at current prices, according to blockchain intelligence data cited by Arkham. The position has gained roughly $122.6 million over the past week as Bitcoin climbed about 14%.Â
Notably, the increase has not come from a new Bitcoin purchase. Tesla's BTC balance has remained unchanged at 11,509 coins for about four years, meaning the latest jump in the value of its holdings has come from Bitcoin's price appreciation.
At its current valuation, Tesla's Bitcoin stash is only about $5.1 million away from the $1 billion milestone. The company held about $872.3 million worth of BTC a week earlier, highlighting how quickly the value of a large cryptocurrency position can change during a market rally.
Moreover, Tesla's 11,509 BTC represents roughly 0.055% of Bitcoin's capped 21 million supply. The Elon Musk-led electric vehicle maker is also among the largest publicly listed companies with Bitcoin holdings globally. Data from BitcoinTreasuries ranks Tesla 11th among public companies by BTC holdings, placing it behind companies such as Strategy, Metaplanet, MARA Holdings, Strive, Trump Media and SpaceX.



 
Tesla initially entered the Bitcoin market in 2021, disclosing a $1.5 billion investment in the cryptocurrency. It briefly accepted Bitcoin as payment for vehicles before suspending the option later that year.
The automaker subsequently reduced its position, including a major sale in 2022 that generated about $936 million in proceeds, leaving the remaining 11,509 BTC.
Meanwhile, Bitcoin's recent rally has nevertheless produced mixed signals from market indicators. Cryptoquant's analyst Axel Adler Jr. said on Thursday the Bitcoin Regime Score indicator briefly reached +52 on September 19 and +64 on September 22 before falling back toward neutral territory following this week's rally. The accompanying confidence measure also dropped to 22%, suggesting the model's signals are currently less decisive.Â
“The Score does not currently confirm a sustained bullish regime. Another move above +30 would carry more weight if the Score stayed in bullish territory and the model's signals became more aligned.†He wrote. “A drop below -30 would indicate that bearish signals have gained the upper hand.â€
Elsewhere, Bloomberg strategist Mike McGlone has questioned whether Bitcoin's earlier low near $60,000 marked the bottom of the current cycle.Â
“Has the crypto's low-price cure been achieved near $60,000 in 2026? My bias leans to unlikely, and the graphic highlights top reasons: the record-setting stock market and too much competition for non-income-producing assets from the US Treasury 10-year yield's move above 5% in 3Q,†McGlone stated.
In an earlier post, McGlone argued that the cryptocurrency could face another steep decline, with his analysis pointing to the possibility of a move toward $10,000.
At press time, Bitcoin was trading at $83,915, up 0.78% in the past 24 hours.
