In a surprising but telling update from Tesla’s Q1 2025 earnings call, Elon Musk revealed a shift in focus—from political duties back to the electric car giant—as the company maintains its sizable Bitcoin holdings through a volatile quarter.
Despite a challenging Q1 that saw both Tesla and Bitcoin prices fall, the company held tightly onto its 11,509 Bitcoin, a digital asset stash worth approximately $1.07 billion following the recent rebound in BTC prices.
According to CoinGecko data, Bitcoin fell around 11.56% over Q1, dropping from $93,567 to $82,514. Tesla’s crypto holdings mirrored that dip in valuation, dropping from $1.076 billion to $951 million. However, with Bitcoin bouncing back in April, Tesla’s portfolio value has climbed once again.
This consistency in Tesla’s digital asset strategy marks a steady belief in Bitcoin’s long-term value, especially now that U.S. companies can report their crypto holdings at fair market value due to a recent rule change by the Financial Accounting Standards Board (FASB). Previously, companies could only report losses unless the assets were sold.
Musk to Step Back from DOGE (Not the Coin)
In the same earnings call, Musk joked that he would reduce his involvement in the Trump administration’s so-called “Department of Government Efficiency” (DOGE), an unofficial role he’s played in cost-cutting measures.
“Starting probably next month, May, my time allocation to DOGE will drop significantly,” Musk said, indicating a return to a more hands-on role at Tesla. “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.”
Still, Musk stated he would remain marginally involved—one or two days a week—to ensure “the waste and fraud that we stop does not come roaring back.”
Tesla Shares Rebound, But YTD Still in Red
Tesla shares saw a modest rebound, gaining 5.4% in after-hours trading following a 4.6% rise during regular hours to nearly $237. However, the stock is still down over 37% for the year, pressured by declining vehicle sales, Musk’s political visibility, and economic uncertainty spurred by ongoing Trump-era tariffs.
As Tesla regains focus and Bitcoin continues its volatile climb, all eyes are now on Musk—once again—as he recommits to Tesla while continuing to quietly endorse crypto from the sidelines.
