Tesla holds onto Bitcoin as Musk says time at DOGE to ‘drop significantly’

Tesla has held onto its Bitcoin during the archetypal 4th of 2025 arsenic CEO Elon Musk promised shareholders that helium would standard backmost his clip moving arsenic the Trump administration’s cost-cutting czar.

Musk’s remark appears to person been the main catalyst down Tesla’s (TSLA) 5.4% terms leap successful after-hours trading connected April 22 to $250.80 aft closing the trading time up 4.6%, according to Google Finance. 

It comes arsenic the automaker’s Q1 results released the aforesaid time amusement revenues deed $19.34 billion, missing Wall Street estimates by 7.85% and marking a 9.2% autumn from the aforesaid play past year.

Tesla’s nett income of $409 cardinal besides marked an 80.8% quarter-on-quarter driblet and a 70.5% autumn from Q1 2024.

Source: Tesla

Tesla’s integer plus holdings dropped 11.61% successful worth from $1.076 cardinal to $951 cardinal successful Q1, alongside Bitcoin’s (BTC) 11.56% terms autumn to $82,514 implicit the aforesaid time, according to CoinGecko data.

A caller rule from the Financial Accounting Standards Board allows nationalist companies to report their crypto holdings astatine marketplace value. Before, lone losses were recorded — unless the crypto was sold. 

Tesla’s 11,509 Bitcoin stash is present worthy implicit $1.07 cardinal arsenic a effect of the marketplace rebound implicit the past week, according to Bitcoin Treasuries data. Tesla’s Bitcoin holdings haven’t changed since June 30, 2022.

Musk to easiness up connected DOGE duties

In an April 22 net call, Musk promised that helium would standard backmost his clip moving astatine the Trump administration's alleged Department of Government Efficiency, oregon DOGE, to absorption much connected Tesla.

“Starting astir apt adjacent month, May, my clip allocation to DOGE volition driblet significantly,” Musk said. 

“I’ll beryllium allocating acold much of my clip to Tesla present that the large enactment of establishing the Department of Government Efficiency is done.”

Tesla’s 5.4% emergence successful after-hours came connected the backmost of a 4.6% summation to astir $237 during the April 22 trading time arsenic the broader marketplace clawed backmost immoderate losses from earlier successful the week.

Tesla shares are inactive down implicit 37% year-to-date, driven partially by declining sales, Musk’s increased governmental presence and economic uncertainty stemming from Trump’s tariffs.

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