Tesla has reported a $239 million post-tax unrealized impairment loss on its Bitcoin holdings for the fourth quarter of 2025. Despite this accounting loss, the electric vehicle manufacturer maintained its position of 11,509 BTC, reflecting a long-term strategic approach to its cryptocurrency assets. The impairment, required under Generally Accepted Accounting Principles (GAAP), does not represent a realized financial loss, as Tesla did not sell any Bitcoin during the period. The company's initial $1.5 billion Bitcoin purchase in February 2021 marked a significant step in corporate cryptocurrency adoption. Tesla sold approximately 75% of its holdings in 2022 due to liquidity concerns but has since maintained a smaller reserve. Current accounting standards require companies to recognize impairment losses when market values fall below carrying amounts, though gains cannot be recognized until assets are sold. The Financial Accounting Standards Board is considering changes that could allow fair value measurement, potentially altering future corporate reporting of digital assets.