Joe Soucheray: Walz is more like Trump than he would care to believe
Walz said he put a Tesla stock app on his phone to get a little boost during the day watching shares of Tesla stock.
'$225 and dropping,' Tim said, thumb pointing down. The crowd cheered because, you know, Elon Musk.
We'll be here a long time if we were to track Walz's profundities. Outside the venue and all around the country, Tesla dealerships were being vandalized, Tesla cars shot at, keyed and kicked, and Tesla owners, who were never terribly sincere about saving the Earth in the first place, are buying bumper stickers that read 'Don't blame me, I already owned the car.'
Into bed with this destructive crowd climbs Walz, supposedly a governor. Such irrationality suggests that he might not be safe around the Mona Lisa, either, lest he produce a pocket knife and disfigure her face.
Supposedly a governor, who should know better. Tesla employs more than 150,000 American workers, many of whom probably voted for Kamala Harris and Walz. Those workers own Tesla stock. In Minnesota, the State Board of Investment, as of June 30, 2024, had 1.6 million shares of Tesla stock in its retirement fund and 211,000 shares in its non-retirement fund. Mutual funds in retirement plans own Tesla shares. Your Aunt Ethel probably owns Tesla stock and probably the good sisters of St. Joseph, too.
No kind of fellow preening and begging to be taken seriously as a statesman would denigrate an American company of such magnitude nor would he take glee in the company's declining share price.
Walz is more like Donald Trump than he would care to believe in the sense that you wonder if anybody can get to him and make him see the light, or at least do some homework. In 2017, Tesla purchased a Minnesota company, Perbix in Brooklyn Park, a creator of sophisticated and automated automobile manufacturing equipment. Perbix employed 150 people at the time, with Musk vowing to recruit more workers. Walz should be the new mug on their dart board.
In another whistle stop, Walz joined the governor of California, Gavin Newsom, who has a podcast along with a million other people. The two of them came to lament MAGA people and conservatives in general. Well, OK. But then …
'I could kick their ass,' Walz said, meaning, again, MAGA people and conservatives in general. 'I think I scare them a little bit.'
You do, Tim, you do, but not because you've been to the gym. You let a city burn. You commit mortal financial sins and are in denial of them. No administration in the history of the state has ever experienced such repetitive fraud. No governor has ever blown such a bountiful surplus. You signed off on an unnecessary new State Office Building, another bill down the drain. If that's cutting-edge progressive leadership, who wants it?
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We've been through all this, but Walz continues to surf along the populist wave of people who don't care. Worse, maybe Walz doesn't care. Maybe they will start caring, depending how much Tesla stock they have in their retirement nest eggs.
Full disclosure is required. I am not a Tesla owner, nor have I personally purchased any Tesla stock. Normal people call me a car nut. I need noise and big round instruments with sweeping needles. Oh, and smells, too, the sweet perfume of the petroleum miracle.
I spend enough time sitting in front of a computer screen.
Joe Soucheray can be reached at jsoucheray@pioneerpress.com. Soucheray's 'Garage Logic' podcast can be heard at garagelogic.com.
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The Hill
14 minutes ago
- The Hill
Trump, Putin meet in Alaska
President Trump made new demands for peace between Russia and Ukraine as he touched down in Alaska at 2:20 p.m. Eastern on Friday for a historic summit with Russian President Vladimir Putin. Speaking to reporters on Air Force One, Trump said he's prepared to walk away from the negotiating table if he doesn't believe Putin is open to a deal that would end the three-year war. 'I think it's going to work out very well — and if it doesn't, I'm going to head back home real fast,' Trump told Fox News anchor Bret Baier aboard Air Force One. 'If it doesn't, you walk?' Baier asked. 'I would walk, yeah,' Trump said The president also drew a red line with Putin, who brought along several businesspeople on the trip. 'They're not doing business until the war is settled,' Trump said. And Trump put European leaders at ease, announcing that he has no intention of discussing potential concessions on Ukraine's behalf. 'I'm not here to negotiate for Ukraine,' Trump said. Over the course of the trip from Washington to Anchorage, the previously planned one-on-one meeting between Trump and Putin expanded and will now be a three-on-three meeting. Trump will be joined by Secretary of State Marco Rubio and special envoy Steve Witkoff. Trump arrived with a big crew that includes Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, CIA Director John Ratcliffe, chief of staff Susie Wiles, press secretary Karoline Leavitt, and others. Putin's plane landed a half-hour after Trump's. The Russian president endeavored on his own side quests while making the trip from Moscow to Anchorage. Putin participated in a wreath-laying ceremony in Eastern Russia at a monument dedicated to Soviet and American pilots who cooperated during World War II. He also met with local hockey players. Trump and Putin deplaned at 3:08 p.m. Eastern time. They walked down the red carpets between fighter jets to shake hands. Trump arrived first, clapping as Putin approached. The leaders exchanged greetings, then walked to a riser, as a military fly-over was conducted overhead. They shook hands again and stepped off the riser. They rode together in the Beast — the presidential limo — to the summit location. A Kremlin spokesman said the summit, which will include an expanded bilateral meeting with additional Russian and American officials, could last six to seven hours. Trump and Putin are expected to conduct a press conference afterwards. BACK IN KYIV… Ukrainian President Volodymyr Zelensky is the odd man out on Friday, having not been invited to the bilateral summit. Trump has said he hopes a trilateral meeting between himself, Putin and Zelensky will come together quickly after Friday's meeting. Back in Kyiv, Zelensky told a small group of reporters, including NewsNation's Robert Sherman, that the summit will benefit Putin more than anyone, arguing that the Russian leader will be bolstered at home for appearing on equal footing with the U.S. president. 'What [Putin] is seeking frankly, is photographs,' Zelensky said. 'He needs a photo from a meeting with President Trump.' 'First, he will be meeting on U.S. soil, which I believe is his personal victory,' Zelensky added. 'Second, he is coming out of isolation … third, with this meeting, he has somehow postponed the sanctions policy. President Trump has serious sanctions. We will see what happens next.' Ukraine on Thursday launched drone attacks on cities in southern Russia, killing one person and injuring at least 16 more. Rep. Marjorie Taylor Greene (R-Ga.) accused Zelensky of seeking to 'sabotage' the peace talks with the military offensive. 'Zelensky doesn't want peace and obviously is trying to sabotage President Trump's heroic efforts to end the war in Ukraine,' Greene posted on X. Russian forces have been carrying out their own airstrikes across Ukraine's eastern and southern regions. 'There is not only no order but also no signals from Moscow about preparing to end this war,' Zelensky said. 'On the day of negotiations, they are also killing. And that says a lot.' • A federal appeals court panel overturned a judge's block on the Trump administration's dismantling of the Consumer Financial Protection Bureau, paving the way for mass layoffs to resume. 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'Although I have not seen any public statements directly from those who are not here, that seems to be what people have the expectation of.' Texas Democrats fled the state almost two weeks ago to deny a quorum and delay a vote on the new maps, which could help Republicans win an additional five House seats in next year's midterm elections. However, the missing Democrats signaled they're ready to return if a second special session is called and if California moves ahead with its own redistricting efforts. The first Texas special session ended Friday, and Texas Gov. Greg Abbott (R) immediately gaveled in a second special session. The missing Democrats are being fined $500 a day, and Abbott has promised to keep calling new special sessions until enough Democrats return to the state to allow for a vote on the new maps. California Gov. Gavin Newsom (D) this week launched his own campaign to redraw the Golden State's maps, satisfying the second demand from Texas Democrats. At least one Texas Democrat that fled the state announced she'd return for the new special session. 'I am proud of what we accomplished,' state Rep. Ann Johnson (D) said in a statement. 'We ended a session that had nothing to do with helping Texans and everything to do with silencing them. And we exposed the truth behind the Governor's political agenda: to hijack the maps, erase opposition, and decide the next election before a single vote is cast. Now, with that session behind us, I'm returning to Texas to continue the fight — from the floor of the House.' MEANWHILE… California legislators are expected to release their proposed gerrymandered maps soon to counter the Texas GOP's moves. Still, a poll released this week indicates Newsom has his work cut out for him to sell voters on the idea of circumventing the independent redistricting commission, which at the moment has sole authority to draw the state's maps. 'Trump's election rigging comes to an end now,' Newsom posted on X. 'California won't stand by and watch Trump burn it all down — we are calling a special election to redraw our Congressional maps and defend fair representation. This is a five alarm fire for Democracy. Vote YES November 4.' Former California Gov. Arnold Schwarzenegger (R) has been a vocal opponent of California's redistricting efforts, teasing a fight with Newsom over social media Friday. 'I'm getting ready for the gerrymandering battle,' Schwarzenegger wrote above a photo of him lifting weights. Republicans in Florida, Ohio and Indiana are also eyeing potential mid-decade redistricting efforts. The Hill's Mike Lillis and Caroline Vakil report that California's move is putting pressure on other blue states to follow suit. 'The Democrats don't want to stop [with California], pressing party leaders in Illinois, New York and even Maryland to take a page from Newsom's playbook to help the party flip control of the House — and establish a check on President Trump — in next year's elections.' 💡 Perspectives: • American Prospect: Newsom's defining moment for the party. • The Hill: DeSantis is diminished as 2028 GOP nominee. • The Liberal Patriot: Why populism could dominate both parties. • Whole Hog Politics: Checking in on Election Day 2025. ON TAP IN OTHER NEWS DC attorney general sues Trump over police takeover Washington, D.C., Attorney General Brian Schwalb (D) sued President Trump on Friday, seeking to end the federal takeover of the District's Metropolitan Police Department (MPD). The 33-page lawsuit alleges that Trump exceeded his emergency authorities by appointing Drug Enforcement Agency (DEA) Administrator Terry Cole as temporary police commissioner. The lawsuit seeks to reinstall Mayor Muriel Bowser (D) and Police Chief Pamela Smith at the head of the MPD. 'There is no greater risk to public safety in a large, professional police force like MPD than to not know who is in command,' the lawsuit reads. The federal takeover of the MPD can only last for 30 days, at which point Congress would have to vote to authorize an extension. In addition to taking over the MPD, Trump dispatched more than 800 National Guard troops to join agents from other federal departments in patrolling the nation's capital to crack down on crime. FBI Director Kash Patel said Friday that federal authorities made 18 additional arrests Thursday night. 'We're now over 120 arrests since President Trump's initiative began,' Patel said. 'The good cops are getting the job done.' The raids are also targeting homeless encampments, clearing them off of federal property. 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Newsweek
15 minutes ago
- Newsweek
Mary Trump Warns Uncle's Latest Moves Pose 'Unique Threat' to US Future
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Mary Trump, the estranged niece of President Donald Trump, warned this week that his approach to federal cultural institutions poses a "unique threat" to the future of the United States. Newsweek reached out to the White House for comment via email. Why It Matters Trump this week launched a review of some Smithsonian Institution museums in Washington, D.C., to "ensure alignment with the President's directive to celebrate American exceptionalism, remove divisive or partisan narratives, and restore confidence in our shared cultural institutions." It follows an executive order titled "Restoring Truth and Sanity to American History" signed in March that would eliminate "improper ideology" across the Smithsonian. Critics have said the order could break the independence of these museums from partisan interests. What To Know Mary Trump, who has remained a vocal critic of her uncle's policies, raised alarms about the move in a new Substack post published on Thursday. "It is part of an overarching plan," she wrote. "But this one, I think, carries a unique threat to our futures as an advanced country that cares about such things. We also need to remind people that the arts are the most important mirror of—and way into understanding—a society and a culture." She questioned whether this is "just another assault on expertise" like others waged on the scientific and medical communities, saying it is "not an isolated incident," while adding that she believes the Trump administration aims to transform the Smithsonian museums "into agencies of propaganda." Mary Trump attends the Hay Festival in Hay-on-Wye, Wales, on May 26. Mary Trump attends the Hay Festival in Hay-on-Wye, Wales, on May 26."The idea that anybody—including Donald—thinks that he, of all people, has any business going anywhere near our cultural institutions, that he of all people has the right to interfere in our ability to learn about ourselves and other people, is quite frankly grotesque to me," she wrote. The White House, in a letter to Smithsonian Institution Secretary Lonnie Bunch, wrote that the review would be "rooted in respect for the Smithsonian's vital mission and its extraordinary contributions." The review would focus on public-facing content, curatorial process, exhibition planning, collection use and narrative standards, according to the letter. Initially, the review will focus on the National Museum of American History; National Museum of Natural History; National Museum of African American History and Culture; National Museum of the American Indian; National Air and Space Museum; Smithsonian American Art Museum; National Portrait Gallery; and the Hirshhorn Museum and Sculpture Garden. "Our goal is not to interfere with the day-to-day operations of curators or staff, but rather to support a broader vision of excellence that highlights historically accurate, uplifting, and inclusive portrayals of America's heritage," the letter reads. What People Are Saying The White House wrote in a letter to Bunch: "We view this process as a collaborative and forward-looking opportunity—one that empowers museum staff to embrace a revitalized curatorial vision rooted in the strength, breadth, and achievements of the American story. By focusing on Americanism—the people, principles, and progress that define our nation—we can work together to renew the Smithsonian's role as the world's leading museum institution." Stephen Miller, White House deputy chief of staff, wrote in a post to X: "The Smithsonian is supposed to be a global symbol of American strength, culture and prestige. A place for families and children to celebrate American history and greatness. Instead, the exhibits have clearly been taken over by leftwing activists who have used the Smithsonian as yet one platform to endlessly bash America and rewrite / erase our magnificent story. These activists have obscenely defaced this beloved institution. The Trump Administration will proudly and diligently restore the patriotic glory of America and ensure the Smithsonian is a place that once more inspires love and devotion to this nation, especially among our youngest citizens." Minnesota Governor Tim Walz wrote to X: "If you're trying to erase history, you're on the wrong side of it." U.S. Representative Ayanna Pressley of Massachusetts wrote in a statement: "It is the impartial role and responsibility of the Smithsonian museums to ensure a full, accurate, and resonant telling of American history – and Trump has no right to censor our history, ignore the systemic oppression of marginalized people, and attack our intellectual freedom. Much like his disgraceful rollbacks of diversity, equity, and inclusion programs and his campaign to ban books, this action is yet another attempt to whitewash our shared history and replace the challenges and triumphs of women, people of color, and Native Americans with false narratives forged with white supremacist ideology." What Happens Next The White House's letter includes an implementation timeline. Within 120 days, the museums should "begin implementing content corrections where necessary, replacing divisive or ideologically driven language with unifying, historically accurate, and constructive descriptions across placards, wall didactics, digital displays, and other public-facing materials."
Yahoo
42 minutes ago
- Yahoo
The 10 Public Companies With the Biggest Bitcoin Portfolios
For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business. That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years. The floodgates first opened when cloud software company Strategy (formerly MicroStrategy) bought $425 million worth of Bitcoin in August and September 2020. Others followed suit, including payments processor Block and electric car manufacturer Tesla. Per BitcoinTreasuries, public companies holding Bitcoin now account for nearly 4.5% of the total supply of 21 million BTC. These are the biggest holders as of this writing. 1. Strategy Strategy, a prominent business analytics platform turned Bitcoin treasury company, has adopted BTC as its primary reserve asset. The company is perhaps better known as MicroStrategy, but changed its name in February 2025 with co-founder Michael Saylor citing the 'power and positivity' of 'strategy.' The firm, which produces mobile software and provides cloud-based services, has aggressively pursued a Bitcoin buying spree, scooping up millions of dollars worth of the cryptocurrency. As of this writing in August 2025, it holds 628,946 BTC in reserve, equivalent to more than $73 billion and more than 2.8% of the total number of Bitcoin that will ever be issued. What Is Strategy (MSTR)? The Bitcoin Treasury Company At one point, Strategy Executive Chairman Michael Saylor said, he was buying $1,000 in Bitcoin every second. In the company's Q1 2024 earnings call, Saylor claimed that the company's adoption of a 'Bitcoin strategy' had enabled it to deliver 10x to 30x the performance of rival enterprise software companies in the business intelligence sector. Unlike other executives who typically shy away from discussing their personal investments, Saylor has made it public that he personally purchased 17,732 BTC—currently worth over $1.6 billion and still holds them as of September 2024. It's something of an about-face for the Strategy co-founder, who in 2013 claimed that Bitcoin's days were numbered. Strategy Could Buy as Much as 7% of Bitcoin Supply, Says Michael Saylor 'We're at the beginning of the stage of rapid institutional adoption of digital property in the form of Bitcoin,' Saylor said during the company's Q1 2024 earnings call. He added that in the future, Bitcoin won't compete against other crypto assets, but against, 'gold, art, equities, real estate, bonds, and other types of store-of-value money in wealth creation, wealth preservation, and the capital markets.' Strategy plans to buy even more Bitcoin in the near future, as it's in the midst of raising a planned $42 billion to do just that, and Saylor is making the pitch to other public companies as well—like Microsoft, though shareholders ultimately voted against the proposal. Perhaps the loudest Bitcoin proponent out there, Saylor has already said the firm will be 'buying the top forever.' 2. Marathon Digital Holdings Inc. Bitcoin mining company Marathon Digital, unsurprisingly, is also a large holder of Bitcoin, with 50,639 BTC in its corporate treasury according to a recent social update. That's worth nearly $6 billion at today's prices. The company, which aims to build "the largest Bitcoin mining operation in North America at one of the lowest energy costs," originated as a patent holding firm (and was often referred to as a patent troll) before its pivot into crypto mining. Donald Trump's Face Is Now Plastered on the Bitcoin Blockchain Forever The firm noted that it is accelerating its growth plans following the 2024 Bitcoin halving, in a bid to 'mitigate the impact' of receiving half the BTC rewards per each successfully mined block. The firm had said that it aimed to double the scale of its mining operations in 2024. The company increased its revenue by 64% in Q2 2025, marking its highest ever revenue quarter at $238.5 million. It recently raised nearly $2 billion via convertible notes, most of which has been used to buy Bitcoin. 3. Twenty-One (XXI) The Jack Mallers-led Twenty One (XXI) expects to hold 43,514 Bitcoin—over $5 billion worth currently—when transactions are finalized and it begins trading publicly. Set to launch via a planned SPAC merger with Cantor Equity Partners, the firm is also working alongside stablecoin giant Tether, crypto exchange Bitfinex, and Japanese investment firm SoftBank to build its Bitcoin treasury. Twenty One Boosts Bitcoin Treasury Total to $5.1 Billion—With Help From Tether Unlike other treasury firms that may accumulate Bitcoin for their balance sheets while operating non-crypto businesses, Twenty One's primary focus will be on acquiring BTC and providing Bitcoin-related services to help differentiate itself from others. The firm pledges a long-term focus with plans not to 'outperform inflation,' but instead 'render the concept of inflation irrelevant.' 4. Bitcoin Standard Treasury Company Bitcoin Standard Treasury Company (BSTR) is another soon-to-be public entity that will launch with more than 30,000 Bitcoin when its transactions finalize, expected to take place in Q4 2025. The firm, which will be led by early Bitcoiner and BTC whale Adam Back, is the result of a merger between BSTR and the Cantor Fitzgerald-linked special purpose acquisition company, Cantor Equity Partners I. Cantor, Adam Back Team Up to Launch Bitcoin Treasury Firm With $3.5 Billion in BTC As part of the merger, Back and founding shareholders will contribute 25,000 Bitcoin to the company, with another 5,021 Bitcoin provided via an in-kind PIPE, or private investment in public equity. 'We are putting unprecedented firepower behind a single mission: maximizing Bitcoin ownership per share while accelerating real-world Bitcoin adoption,' Back said of the firm, in a statement. In addition to its 30,031 Bitcoin, currently valued at $3.5 billion, the firm also announced it could raise up to $1.5 billion in funding for more purchases. 5. Riot Platforms, Inc. Another crypto mining outfit, U.S.-based Riot Platforms, holds 19,273 BTC—worth $2.25 billion at today's prices. With its valuation surging from below $200 million in 2020 to highs of over $6 billion in 2021, the Nasdaq-listed company went on an aggressive expansion drive. In April 2021, it spent $650 million on a one-gigawatt Bitcoin mining facility in Texas, eventually expanding further in 2022 before rebranding to Riot Platforms to diversify its business model in 2023. Jack Dorsey's Block Reveals Modular Bitcoin Mining Rigs That Can Be Upgraded In 2024, it warned shareholders that there was 'no guarantee' the Bitcoin halving would improve profitability and while RIOT shares traded briefly around $18 in the early part of the year, the stock fell gradually before ranging below $10 from August until late October. After such, it gained alongside a resurgence for Bitcoin mining stocks and the broader cryptocurrency market after Donald Trump was named President-elect in November. The company also reached a settlement with Bitcoin mining firm, Bitfarms, as it attempted a hostile takeover of the rival in 2024. 6. Metaplanet Metaplanet, a Tokyo-listed firm nicknamed the 'Asian Strategy,' now holds 18,113 Bitcoin after its latest purchase, worth over $2.1 billion at today's prices. Outside of its Bitcoin operations, the company owns and operates a hotel that is being rebranded to the 'Bitcoin Hotel,' and claims that it is the first and only publicly listed Bitcoin treasury company in Japan. Following in Strategy's footsteps, the firm has aggressively added to its Bitcoin holdings of late, increasing its reserves more than 10x from less than 400 BTC in September 2024 to more than 4,500 in April 2025. It then more than tripled that number in just a couple months as it heads towards a goal of owning more than 210,000 Bitcoin by 2027. In other headline news, the company added President Donald Trump's son Eric Trump to a Strategic Advisory Board in March. 7. Trump Media & Technology Group President Trump's publicly traded media and technology firm is the 7th largest holder of Bitcoin with an estimated 15,000 BTC, according to data from That number is likely derived from the firm's recent $2 billion purchase of Bitcoin and Bitcoin-related securities in July—although it has not publicly detailed exactly how much of that purchase is denominated in BTC itself. Trump Media Buys $2 Billion in Bitcoin, BTC Securities for Treasury Trump Media has been leaning into crypto heavily since the president returned to the White House in January. In addition to its Bitcoin purchases, it also teased the launch of a crypto token and wallet for its Truth Social platform, and has filed to launch multiple crypto ETFs. 8. CleanSpark U.S. Bitcoin mining firm CleanSpark holds 12,703 BTC as of July 31, worth just under $1.5 billion at today's prices. Ahead of the 2024 Bitcoin halving, the firm expanded its operations, snapping up three Bitcoin mining facilities in Mississippi for $19.8 million and adding up to 2.4 EH/s to its mining capacity. The company also added a third facility in Dalton, Georgia to its lineup, with a further 0.8 EH/s. In June 2024, CleanSpark revealed that it had mined 417 BTC in the month of May, claiming to have 'outperformed industry expectations' in its first full month of production following the halving. The company added that it would further expand to a site in Wyoming. While other public companies on the list have made it a habit of buying Bitcoin for their treasuries, CleanSpark CFO Gary Vecchiarelli said in February 2025, 'We continue to invest in ourselves, because why buy Bitcoin at current spot prices when we can mine it for $34,000?" 9. Coinbase Arguably the best-known crypto firm in this list, crypto exchange Coinbase went public in a landmark direct listing on the Nasdaq in April 2021. Ahead of its listing, in February 2021, Coinbase revealed that it held $230 million in Bitcoin on its balance sheet. As of its most recent 10-q filing, it holds 11,776 BTC in its treasury for investment, currently worth nearly $1.4 billion. Coinbase and Strategy Set Stock Records Amid Bitcoin, Ethereum Spikes The company's stock has charged back towards its previous all-time high in the wake of the 2024 Presidential election, later surpassing the mark in June 2025 and pushing to a new high again in July. It continues to innovate with Bitcoin, recently announcing its own wrapped Bitcoin product, cbBTC. Coinbase also recently restarted Bitcoin lending services. 10. Tesla Electric vehicle manufacturer Tesla joined the ranks of companies holding Bitcoin in December 2020, with an SEC filing revealing that the company invested "an aggregate $1.5 billion" in Bitcoin. Today the company holds 11,509 BTC according to its July 2025 10-Q, or about $1.35 billion worth. After its first purchase, the company sold 10% of its Bitcoin holdings in Q1 2021; according to CEO Elon Musk, this was "to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet." The company's Bitcoin play followed months of speculation, after CEO Elon Musk took to Twitter (aka X) to discuss the cryptocurrency. In late 2020, Strategy's Saylor offered to share his "playbook" for Bitcoin investing with Musk, after arguing that a move into Bitcoin would be doing Tesla shareholders a "$100 billion favor." Tesla Revalues Bitcoin Holdings Under New Accounting Rules, Reports $600M Gain in Q4 However, Musk and Tesla have had an on-and-off relationship with Bitcoin. After announcing that Tesla would accept payments in Bitcoin for its products and services in March 2021, just two months later the CEO abruptly announced that the company would no longer accept the cryptocurrency for payments. Arkham Intelligence believes the acceptance of Bitcoin payments fueled a jump in the Tesla Bitcoin holdings, placing its current treasury at 11,509 BTC compared to a once widely reported 9,720 BTC based on its previous purchases and ensuing sales. Tesla's latest financial reports validate the total of 11,509. It remains to be seen whether Tesla will add to its balance sheet, but Musk has said that 'he's open to increasing its Bitcoin holdings in the future.' Musk is perhaps best known as a keen advocate of another cryptocurrency, Dogecoin. Tesla has enabled Dogecoin purchases for some merchandise, plus Musk led the Department of Government Efficiency (DOGE) earlier this year, spawning new meme coins and a swift movement upward for Dogecoin. Additional reporting by Daniel Phillips Editor's note: This article was first published in July 2022 and last updated with new details on August 15, 2025. Sign in to access your portfolio
