Car company Tesla disclosed cryptocurrency holdings of 11,509 Bitcoin in its latest quarterly report. Due to the current boom in Bitcoin’s price, Tesla’s holdings in digital assets are valued at $1.03 billion according to CoinMarketCap.
Tesla’s quarterly report fell below expectations
The electric car brand performed below expectations in the first quarter of 2025. Total revenue for the quarter decreased by 9% to $19.34 billion from $21.3 billion in the same period last year. Automotive revenue went down by 20% to $14 billion from $17.4 billion.
Trump’s tariffs, Musk’s time away from Tesla, and broader economic instability were key factors in this decline.
Due to a new update in the Financial Accounting Standards Board’s rules, U.S. companies are now able to report their crypto holdings at market value. Previously, firms holding on to crypto could only disclose gains if they sold their digital assets, but had to report any unrealized losses.
Elon Musk’s involvement with DOGE and the Trump administration
Elon Musk remains heavily focused on matters of public governance in the U.S.. He is a key figure in the Trump administration, creating DOGE—Department of Governmental Efficiency—to help drive efficiency across U.S. government departments.
Economic repercussions from Trump tariffs have impacted Tesla’s production. The company’s plans to ship parts from China for the Cybercab and semi-electric trucks were suspended after U.S. President Donald Trump hiked tariffs on China in a price war, as reported by Reuters.
Tesla’s price is currently $237.97 at the time of recording. The stock is down 37.26% on a YTD basis.
