Tesla maintains $321 million Bitcoin holdings in Q1 2023, reports $2.5 billion net profit

In the first quarter of 2023, Tesla declared that it had never sold any of its $321 million in Bitcoin (BTC) assets.
Tesla reported first-quarter earnings of $2.5 billion, down from $3.32 billion in the same period last year, on revenues of $23.33 billion.
Elon Musk's Tesla, a market-leading automaker and pioneer in sustainable energy, declared that throughout the first quarter of 2023, it never sold any of its $321 million worth of Bitcoin (BTC) assets.

Tesla's Bitcoin holdings have remained unchanged for the third consecutive quarter, according to its Q1 statement, despite the fact that the value of BTC rose from $16,500 to almost $28,500 over the quarter.
 

Tesla reports a net profit of $2.5 billion.
According to Reuters, Tesla missed market expectations for its first-quarter margin because of a series of drastic price cuts intended to increase demand in the face of a sluggish economy and increasing competition. However, the company expects to deliver about 1.8 million cars in 2023.

Tesla reported first-quarter earnings of $2.5 billion, down from $3.32 billion in the same period last year, on revenues of $23.33 billion. According to CoinMarketCap, Bitcoin's price has dropped below $30,000 and is presently trading at $29,248.71.

Dogecoin (DOGE), in particular, has received continuous support from Elon Musk, who has brought it up in recent interviews. Tesla purchased $1.5 billion worth of Bitcoin in 2021, and as of February 2023, it had 9,700 Bitcoin.