Elon Musk Recommits to Tesla as Company Holds Firm on Bitcoin Despite Weak Q1 Results
Tesla shares rise after-hours as Musk vows to reduce government role and focus on EV giant
📉 Tesla Misses Revenue Estimates but Holds Bitcoin Steady
In a turbulent quarter for Tesla, CEO Elon Musk sought to reassure investors during the company’s Q1 2025 earnings call by declaring a renewed focus on the company. This shift comes after Tesla missed revenue expectations, even as it continued to hold 11,509 Bitcoin on its books—unchanged since mid-2022.
Tesla reported $19.34 billion in Q1 revenue, falling 7.85% below Wall Street estimates and representing a 9.2% drop year-over-year. The company’s net income plunged to $409 million, a staggering 80.8% decline from Q4 2024 and down 70.5% from Q1 last year.
Despite these grim figures, Tesla’s stock rose 5.4% in after-hours trading, closing at $250.80, after gaining 4.6% during regular hours, according to Google Finance.
💰 Bitcoin Holdings Unchanged, Value Rebounds
Though the company’s digital asset value dropped to $951 million during Q1 due to a sharp fall in Bitcoin’s price, Tesla has not sold any of its Bitcoin. The decline in value—down 11.61% from $1.076 billion—mirrored Bitcoin’s dip to $82,514 during the quarter, according to CoinGecko.
A new rule from the Financial Accounting Standards Board (FASB) now allows Tesla and other public companies to report crypto assets at fair market value, rather than recording only losses unless sold. As of the latest data, Tesla’s Bitcoin stash is valued above $1.07 billion, thanks to a recent crypto market rebound, per Bitcoin Treasuries.
🔧 Musk Steps Back from ‘DOGE’ Role to Refocus on Tesla
During the April 22 call, Musk announced that starting in May 2025, he would scale back his involvement in the Trump administration’s Department of Government Efficiency, humorously abbreviated as DOGE, and spend more time at Tesla.
“Starting probably next month, my time allocation to DOGE will drop significantly,” Musk said.
“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 added he would still dedicate one to two days a week to DOGE-related duties, emphasizing a continued commitment to reducing “waste and fraud” in government—but not at the expense of Tesla’s future.
📉 Tesla Stock Still Faces Pressure Year-to-Date
While investors welcomed Musk’s renewed focus, Tesla shares remain down over 37% in 2025, with declining global sales, economic uncertainty, and Musk’s political entanglements all contributing to the downturn.
Still, the recent surge in share price, combined with Bitcoin’s rebound, may signal a cautious return of investor confidence—so long as Musk stays laser-focused on Tesla’s core mission.
Tesla shares rise after-hours as Musk vows to reduce government role and focus on EV giant
📉 Tesla Misses Revenue Estimates but Holds Bitcoin Steady
In a turbulent quarter for Tesla, CEO Elon Musk sought to reassure investors during the company’s Q1 2025 earnings call by declaring a renewed focus on the company. This shift comes after Tesla missed revenue expectations, even as it continued to hold 11,509 Bitcoin on its books—unchanged since mid-2022.
Tesla reported $19.34 billion in Q1 revenue, falling 7.85% below Wall Street estimates and representing a 9.2% drop year-over-year. The company’s net income plunged to $409 million, a staggering 80.8% decline from Q4 2024 and down 70.5% from Q1 last year.
Despite these grim figures, Tesla’s stock rose 5.4% in after-hours trading, closing at $250.80, after gaining 4.6% during regular hours, according to Google Finance.
💰 Bitcoin Holdings Unchanged, Value Rebounds
Though the company’s digital asset value dropped to $951 million during Q1 due to a sharp fall in Bitcoin’s price, Tesla has not sold any of its Bitcoin. The decline in value—down 11.61% from $1.076 billion—mirrored Bitcoin’s dip to $82,514 during the quarter, according to CoinGecko.
A new rule from the Financial Accounting Standards Board (FASB) now allows Tesla and other public companies to report crypto assets at fair market value, rather than recording only losses unless sold. As of the latest data, Tesla’s Bitcoin stash is valued above $1.07 billion, thanks to a recent crypto market rebound, per Bitcoin Treasuries.
🔧 Musk Steps Back from ‘DOGE’ Role to Refocus on Tesla
During the April 22 call, Musk announced that starting in May 2025, he would scale back his involvement in the Trump administration’s Department of Government Efficiency, humorously abbreviated as DOGE, and spend more time at Tesla.
“Starting probably next month, my time allocation to DOGE will drop significantly,” Musk said.
“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 added he would still dedicate one to two days a week to DOGE-related duties, emphasizing a continued commitment to reducing “waste and fraud” in government—but not at the expense of Tesla’s future.
📉 Tesla Stock Still Faces Pressure Year-to-Date
While investors welcomed Musk’s renewed focus, Tesla shares remain down over 37% in 2025, with declining global sales, economic uncertainty, and Musk’s political entanglements all contributing to the downturn.
Still, the recent surge in share price, combined with Bitcoin’s rebound, may signal a cautious return of investor confidence—so long as Musk stays laser-focused on Tesla’s core mission.
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