Tesla Holds Over $950M in Bitcoin Despite Q1 Revenue Miss

Tesla (TSLA) continues to maintain a significant position in Bitcoin, with digital asset holdings valued at $951 million as of March 31, according to its latest earnings report. The figure reflects a decline from the $1.076 billion reported at the end of 2023, primarily due to a dip in Bitcoin's market price during the first quarter.

Despite the valuation change, there were no recorded Bitcoin transactions by Tesla in the past three months, based on data from Arkham Intelligence. The automaker’s holdings remain at 11,509 BTC, with Arkham currently estimating the value of the stash at approximately $1.049 billion, reflecting Bitcoin's recent price rebound.

Tesla's Bitcoin investment continues to draw attention, especially under the new Financial Accounting Standards Board (FASB) rules, which now require companies to mark their crypto holdings to market each quarter. This shift could lead to increased earnings volatility for corporate crypto holders like Tesla, as fluctuations in digital asset prices must be reflected in quarterly financials.

Meanwhile, Tesla posted $19.34 billion in Q1 revenue, falling short of analysts’ expectations of $21.37 billion. Despite the earnings miss, TSLA shares rose over 2% in after-hours trading, signaling investor resilience.

Tesla’s crypto holdings remain one of the largest among public companies, positioning the electric vehicle giant as a key corporate player in the digital asset space. As regulatory and accounting frameworks evolve, Tesla’s strategy with Bitcoin could set the tone for other firms exploring crypto treasury diversification.