1月29日消息，尽管比特币价格较高点回落约23%，埃隆·马斯克旗下的特斯拉与 SpaceX 在2025年第四季度仍未减持比特币，也未趁低加仓，继续将其视为长期战略储备资产。这一立场在企业普遍削减加密敞口的背景下，显得格外突出。
特斯拉在公布2025年第四季度及全年财报时披露，其持有的11,509枚比特币数量与前期持平。由于价格从约11.4万美元下探至8.8万—8.9万美元区间，公司录得约2.39亿美元的税后账面损失。不过管理层将其视为会计层面的非现金影响，并指出能源业务利润率与每股收益的超预期表现，抵消了这一压力。
这一态度与2022年熊市低点大幅减仓形成鲜明对比。如今，特斯拉将比特币定位为资产负债表上的长期配置工具，而非短线交易品。相较其超过440亿美元的现金规模，比特币仓位虽小，却传递出对稀缺性与长期价值的认可。
SpaceX 的策略同样稳健。该公司持有约8,200至8,285枚比特币，三年多来未出现大规模出售，仅进行过钱包层面的内部转移。按当前价格计算，其市值约7.3亿美元，已成为非纯加密企业中较为突出的比特币敞口之一。
在2025年不少上市公司选择退出或缩减数字资产配置的情况下，马斯克系企业的坚守释放出不同信号：比特币被纳入长期财务结构，用于对冲通胀、货币波动及宏观不确定性。会计准则下的减值并不代表真实现金流损失，一旦价格回升，账面收益也将迅速修复。
随着特斯拉加速布局人工智能、机器人与能源，SpaceX 估值持续攀升，比特币在其整体资产中占比并不高，却象征着一种前瞻性的企业财务观。对他们而言，这种“数字黄金”并非赌注，而是面向未来的战略资产。
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