Tesla Has Held Onto Its Bitcoin

Tesla (TSLA) shares surged 5.4% in after-hours trading on April 22 after the automaker’s Q1 results showed a mixed bag and CEO Elon Musk promised to scale back his duties at the Trump administration.

Tesla’s earnings missed revenue estimates but beat expectations on earnings per share. Its digital asset holdings also decreased in value during the quarter.

According to data from Bitcoin Treasuries, Tesla’s 11,509 Bitcoin (BTC) stash is now worth over $1.07 billion as a result of the market rebound over the last week.

Tesla’s Bitcoin holdings haven’t changed since June 30, 2022.

After the bell on April 22, Tesla shares shot up 5.4% to $250.80. This follows a 4.6% increase to nearly $237 during the trading day as the broader market clawed back some losses from earlier in the week.

Tesla shares are still down over 37% year-to-date, driven partially by declining sales, Musk’s increased political presence and economic uncertainty stemming from Trump’s tariffs.