Tesla was held in Bitcoin in its first quarter of 2025 as CEO Elon Musk promised shareholders that he would return his time to work as the cost of cutting the Trump administration.
Musk’s comment appears to have been the main catalyst behind Tesla’s (TSLA) 5.4% price jump in the after -time trade on April 22 to $ 250.80 after closing trading day up to 4.6%, According to In Google Finance.
It comes as automaker’s Q1 Results Released on the same day income revenues that hit $ 19.34 billion, missing Wall Street Estimates by 7.85% and marking a 9.2% fall from the same period last year.
TESLA’s net income of $ 409 million was also marked with an 80.8% quarter-on-quarter drop and a 70.5% fall from Q1 2024.
Tesla’s digital asset holdings dropped by 11.61% value from $ 1.076 billion to $ 951 million in Q1, including Bitcoin’s (Btc) 11.56% price falls at $ 82,514 at the same time, According to in coingecko data.
A new one Rule From the Financial Accounting Standards Board gives -As public companies that Report their crypto Hold on to market value. Before, only losses were recorded – unless the crypto was sold.
Tesla’s 11,509 bitcoin stash now costs more than $ 1.07 billion as a result of The market is bouncing In the past week, According to In Bitcoin treasury data. Tesla Bitcoin handles have not changed since June 30, 2022.
Mask to ease the duties to the Doge
With a income of 22th CallMusk has promised that he will return his time working at the so -called Trump Government Department of the Department of the Trump, or Doge, to focus more on Tesla.
“Beginning maybe next month, May, my time taking time to Doge will be lowered,” Musk said.
“I will spend more of my time in Tesla today that the main task of establishing the efficiency of the government department is over.”
Musk said he would continue to spend “one day or two per week” on the items associated with the DOGE as long as US president Donald Trump Need to make sure that the “garbage and fraud we stop will not come back.”
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The 5.4% increase of Tesla in the time time came behind a 4.6% increase to nearly $ 237 during the April 22 days of trading as the broader market returned some losses from earlier on the week.
Tesla sharing still drops more than 37% year-to-date, driven slightly by rejecting sales, Musk’s increased political existence and economic uncertainty It comes from Trump’s tariffs.
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