Despite a 15% dip in revenue in the first quarter, Tesla has held onto its Bitcoin stash, which, at 9,720 BTC, is worth $645 million.
According to Arkham Intelligence, Elon Musk’s other company, SpaceX, holds 8,290 BTC, worth $550 million, as the X owner continues to place his faith in the top crypto.
Tesla has announced its financial results for the first quarter, revealing a 9% dip in revenue, its biggest in 12 years. However, despite the downturn, Elon Musk is keeping his trust in Bitcoin, and the company didn’t sell any of its BTC in Q1.
The electric vehicle manufacturer, which is the largest in the world, earned $21.30 billion in the first three months of the year, failing to meet analyst expectations of $22.15 billion. This is also a significant dip from the $25.17 billion recorded in the fourth quarter of last year and $23.33 billion from Q1 last year.
The revenue dip reflects rough times for Tesla, as other established automakers eat away at the EV market and it loses its
