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Elon Musk's Tesla First Quarter Report: Did it Sell Bitcoin? Did it Buy? - Coin Bulletin
Tesla did not make any cryptocurrency sales in the first quarter of 2025, but the value of the Bitcoin assets it holds on its balance sheet declined due to the market dump.
The electric vehicle giant Tesla announced its financial results for the first quarter of 2025, stating that it holds 951 million dollars worth of Bitcoin (BTC) on its balance sheet. This figure has decreased from the 1.076 billion dollar level at the end of 2024. Tesla still holds 11,509 BTC and the depreciation of these assets is due to the decline in the price of Bitcoin.
Data verifying Bitcoin transactions with the blockchain analysis company Arkham Intelligence shows that Tesla has not made any sales or purchases in the last three months. This means the company continues to HODL its digital assets. According to Arkham, the current market value of the existing BTC is at the level of 1.049 billion dollars.
The new accounting rule directly affects crypto
The regulation of the Financial Accounting Standards Board (FASB), which came into effect in 2025, requires companies to revalue their digital assets at market price at the end of each quarter. The decline observed in Tesla's Bitcoin assets was reported within this framework. Companies are now required to report their crypto assets not only based on trading profits and losses but also instantaneously according to market fluctuations.
Revenue target missed but stock rose
Tesla also announced $19.34 billion in revenue for the first quarter of the year. However, analysts' expectations were at $21.37 billion. Despite this discrepancy, Tesla shares (TSLA) saw an increase of over 2% following the announcements. This indicates that investors found the long-term outlook and approach to crypto assets positive.
Tesla, led by Elon Musk, continues to differentiate itself from traditional automotive companies with its investments in the crypto world. It appears that Bitcoin still plays a central role in Tesla’s financial strategy.