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Tesla (Nasdaq: TSLA) has not sold its Bitcoin holdings worth $1.05 billion, the company announced in its earnings report for the first quarter of 2025 that it released on Apr. 22.
Helmed by the world's wealthiest man, Elon Musk, Tesla is one of the leading automotive and clean energy companies in the world.
As of now, Tesla holds 11,509 Bitcoin worth $1.05 billion on its balance sheet.
However, the firm's Q1 2025 earnings missed the expectations by a large margin.
Tesla reported $19.34 billion in quarterly revenue against the expectation of $21.3 billion, a decline of 9% year-over-year (YoY).
The firm reported $0.27 earnings per share (EPS) during the last quarter, against the expected EPS of $0.41. Its gross margin fell from 17.4% in Q1 2024 to 16.3% last quarter.
It also recorded a loss of 20% YoY in its core automotive revenue that fell to $13.9 billion during the quarter.
In fact, it was the worst quarter for the automotive firm since Q2 2022 in terms of revenue.
Meanwhile, Musk remains busy with his role as President Donald Trump's senior advisor and the de facto head of the Department of Government Efficiency (DOGE). The department that shares its acronym with the popular Dogecoin (DOGE) meme coin is tasked with slashing government spending.
There was even speculation around the department using Dogecoin which was anchored around Musk's previous declarations of his enthusiasm for cryptocurrencies such as DOGE. However, Musk said that there were no such plans.
The Tesla stock closed at $237.97 on Apr. 22, 40% down year-to-date (YTD). Meanwhile, Bitcoin was barely 3% down YTD and was trading at $91,256.36 at press time, as per Kraken's price feed.