🚗💰 Tesla Holds Bitcoin; Musk to Scale Back DOGE Role

Tesla retains its 11,509 $BTC holdings, valued at over $1.07B, despite a Q1 revenue miss. CEO Elon Musk announced plans to reduce his involvement with the Department of Government Efficiency (DOGE) to focus more on Tesla. Following the announcement, Tesla's stock rose 5.4% in after-hours trading.

Tesla's Q1 2025 revenue was $19.34B, a 9.2% decrease year-over-year, with net income dropping 70.5% to $409M. The value of Tesla's Bitcoin holdings declined by 11.61% during the quarter, reflecting market trends.

Musk stated he would dedicate more time to Tesla, reducing his DOGE commitments to "a day or two per week" starting in May. He emphasized the completion of major work at $DOGE and the need to prevent the return of inefficiencies.