TLDR

Table of Contents

Tesla maintained its 11,509 Bitcoin holdings in Q1 2025, now worth over $1.07 billion
The company’s Q1 results missed Wall Street estimates with revenue of $19.34 billion
Elon Musk promised to reduce his time at Trump’s Department of Government Efficiency (DOGE)
Tesla shares jumped 5.4% in after-hours trading following Musk’s comments
A new FASB rule now requires public companies to report crypto holdings at market value

Tesla has maintained its Bitcoin holdings during the first quarter of 2025 as CEO Elon Musk announced plans to reduce his involvement with the Trump administration’s cost-cutting efforts. The electric vehicle maker continues to hold 11,509 Bitcoin despite missing Wall Street estimates for Q1 performance.

According to Tesla’s latest earnings report, the company’s digital asset holdings were valued at $951 million as of March 31, down from $1.076 billion at the end of December. This 11.61% decrease mirrors Bitcoin’s price fall of 11.56% during the same period, suggesting Tesla did not sell any of its cryptocurrency.

The company’s Bitcoin stash is now worth over $1.07 billion following the market rebound over the past week. Tesla has maintained the same Bitcoin position since June 30, 2022, according to Bitcoin Treasuries data.

Musk to Refocus on Tesla

During an April 22 earnings call, Musk told shareholders he would scale back his work at the Department of Government Efficiency (DOGE), the cost-cutting initiative created by President Donald Trump’s administration.

“Starting probably next month, May, my time allocation to DOGE will drop,” Musk said during the call. “I’ll be allocating far more of my time to Tesla now that the major work of establishing the Department of Government Efficiency is done.”

Musk stated he will continue to spend “a day or two per week” on DOGE-related matters for as long as President Trump needs to ensure that waste and fraud do not return. This announcement appears to have pleased investors, as Tesla shares jumped 5.4% in after-hours trading to $250.80.

The positive market reaction came after Tesla closed the regular trading day up 4.6% to nearly $237, as the broader market recovered some losses from earlier in the week.

Q1 Results Miss Expectations

Tesla’s first quarter results revealed the company facing challenges. Revenue hit $19.34 billion, missing Wall Street estimates by 7.85% and marking a 9.2% fall from the same period last year.

The automaker’s net income of $409 million showed an 80.8% quarter-on-quarter drop. This also represented a 70.5% fall from Q1 2024 performance.

Q1 2025 Shareholder Update → https://t.co/sXBSeLibSL
Highlights
– Changed over production lines of the world's best-selling vehicle across 4 factories simultaneously – an industry first
– It's also outpacing all past ramps (LFG)
– Model 3, Y & Cybertruck now drive… pic.twitter.com/xqO95tSHyd
— Tesla (@Tesla) April 22, 2025

Despite these results, investors seemed more focused on Musk’s commitment to spend more time at Tesla. The company’s shares have struggled in 2025, down over 37% year-to-date.

Several factors have contributed to Tesla’s stock decline, including decreasing sales, Musk’s increased political presence, and economic uncertainty related to President Trump’s tariffs.

A new rule from the Financial Accounting Standards Board (FASB) has changed how public companies report their cryptocurrency holdings. Companies can now report crypto at market value each quarter, whereas previously only losses were recorded unless the crypto was sold.

Data from Arkham Intelligence supports the conclusion that Tesla did not execute any Bitcoin transactions in the last three months. Arkham currently values Tesla’s Bitcoin holdings at $1.049 billion.

The electric vehicle manufacturer’s performance fell short of analyst expectations. Market watchers had predicted revenue of $21.37 billion, but Tesla reported $19.34 billion for the quarter.

Despite missing these estimates, Tesla shares have shown resilience, gaining more than 2% in after-hours trading according to some reports. This suggests investors may be looking beyond the current quarter’s results toward Musk’s renewed focus on the company.

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