儘管收入令人失望，但特斯拉還是對比特幣的賭注加倍，持有11,509 BTC的價值超過$ 1B

截至2025年3月31日，該公司持有11509比特幣，目前價值超過10億美元，此前該加密貨幣的價格上漲了6％，至93000美元。

Despite disappointing earnings, plunging stock prices, and slowing electric vehicle sales, Tesla has maintained its strategic focus on Bitcoin.

儘管收入令人失望，股價下跌以及電動汽車銷量放緩，但特斯拉仍保持了對比特幣的戰略關注。

As of March 31, 2025, the company held 11,509 Bitcoin, which has risen slightly by 6% to $93,000, pushing the portfolio value just over $1 billion.

截至2025年3月31日，該公司持有11,509個比特幣，該比特幣略有6％至93,000美元，推動了投資組合價值剛剛超過10億美元。

This development comes after a 41% decline in Tesla’s stock price this year, along with growing scrutiny of CEO Elon Musk’s political involvement.

在特斯拉今年的股價下跌41％之後，這一發展是在首席執行官埃隆·馬斯克（Elon Musk）的政治參與的日益審查之後的。

The company’s Q1 2025 revenue reached $19.34 billion, falling short of Wall Street’s projection of $21.37 billion.

該公司第1季度的2025年收入達到了193.4億美元，距離華爾街預測的213.7億美元不足。

The shortfall is largely attributed to the company’s main business—electric vehicles—which saw a 13% drop in deliveries and a 16% dip in production, leading to a 20% year-over-year decline in revenue from its core segment.

短缺主要歸因於該公司的主要業務（電動車）的交付下降了13％，產量下降了16％，導致其核心部門的收入同比同比下降。

While Tesla’s declining delivery numbers reflect broader industry challenges, some of the company’s struggles are unique, with ongoing protests and concerns over Musk’s dual focus on political appointments and social media commentary adding to investor unease.

儘管特斯拉的交貨人數下降反映了更廣泛的行業挑戰，但該公司的某些鬥爭是獨一無二的，對馬斯克對政治任命的雙重關注和社交媒體評論的持續抗議和擔憂增加了投資者的不安。

Despite this, no changes were made to Tesla’s Bitcoin position during the quarter, indicating a clear intention to maintain it as a long-term asset.

儘管如此，在本季度內未對特斯拉的比特幣位置進行任何變化，這表明明確的意圖是將其作為長期資產。

Tesla’s current holding of 11,509 BTC was initially acquired in February 2021, and about 75% of it was sold off in July 2022. Since then, the remainder has been left untouched.

特斯拉目前的持有11,509 BTC最初是在2021年2月收購的，其中約有75％於2022年7月被出售。此後，其餘的剩餘時間都沒有觸及。

At the end of 2024, this stash was valued at approximately $1.076 billion. However, by the close of Q1 2025, Bitcoin’s 12% decline had reduced the portfolio’s worth to around $951 million.

在2024年底，這個藏匿處的價值約為107.6億美元。但是，到2025年第一季度結束時，比特幣的下降12％的下降已將投資組合的價值降低到9.51億美元左右。

But as Bitcoin prices rebounded to $93,000, the portfolio’s value has climbed back above the $1 billion mark.

但是，隨著比特幣價格的反彈至93,000美元，該投資組合的價值已攀升到10億美元的大關上。

New rules introduced by the Financial Accounting Standards Board (FASB) require companies to mark their digital asset holdings to market value at the end of each quarter.

財務會計標準委員會（FASB）引入的新規則要求公司在每個季度末標記其數字資產持有量以市場價值。

Under this regime, Tesla previously recorded an unrealized gain of $600 million in Q4 2024 due to Bitcoin’s rally.

在這個政權下，由於比特幣的集會，特斯拉在第4季度的第4季度未實現6億美元的未實現收益。

Tesla’s decision not to buy or sell any Bitcoin in Q1 2025 reflects a “HODL” strategy, similar to that of other corporate holders like Strategy and Metaplanet, which treat Bitcoin as a hedge or strategic reserve.

特斯拉（Tesla）的決定不買或出售第1季度2025年的任何比特幣，反映了一種“ hodl”策略，類似於其他公司持有人，例如戰略和metaplanet，這些策略將比特幣視為對沖或戰略儲備。

Elon Musk, known for his support of Dogecoin (DOGE), announced plans to reduce his involvement with the meme coin and shift his time allocation in May 2025 as DOGE operations become more self-sufficient.

埃隆·馬斯克（Elon Musk）以對狗狗幣（Doge）的支持而聞名，他宣布了計劃減少他參與模因硬幣的計劃，並在2025年5月轉移了他的時間分配，而Doge行動變得更加自給自足。

This renewed focus on Tesla comes as analysts call for urgent strategic moves.

由於分析師呼籲採取緊急戰略行動，因此對特斯拉的重新關注。

Dan Ives of Wedbush described the company’s situation as “code red,” suggesting that Tesla may need to reconsider parts of its financial strategy, including how it handles its Bitcoin holdings, if current challenges persist.

Wedbush的丹·艾夫斯（Dan Ives）將公司的處境描述為“代碼紅色”，這表明特斯拉可能需要重新考慮其財務戰略的一部分，包括如果當前的挑戰持續存在，它如何處理其比特幣持有量。

Meanwhile, BeInCrypto predicts that crypto markets will remain volatile until mid-May due to global economic uncertainty and trade pressures.

同時，Beincrypto預測，由於全球經濟不確定性和貿易壓力，加密貨幣市場將保持波動，直到5月中旬。

However, the broader outlook for digital assets, particularly Bitcoin, is more optimistic for the second half of the year, with analysts expecting a rebound driven by post-halving effects, institutional buying, and regulatory clarity in the US.

但是，對數字資產，尤其是比特幣的更廣泛的前景對下半年更加樂觀，分析師期望在美國，備用後效應，機構購買和監管性清晰度會帶來反彈。

As Tesla navigates financial turbulence, its firm stance on cryptocurrency signals that it’s now more than just a side bet—it’s part of a calculated strategy.

當特斯拉（Tesla）導航金融動盪時，其對加密貨幣的堅定立場表明，它不僅僅是一個下注，而且是計算出的策略的一部分。

Whether that strategy pays off in Q2 and beyond may depend as much on Musk’s leadership as on Bitcoin’s next move.

該策略是否在第二季度及以後獲得回報，可能取決於馬斯克的領導地位，而不是比特幣的下一步行動。