尽管收入令人失望，但特斯拉还是对比特币的赌注加倍，持有11,509 BTC的价值超过$ 1B

截至2025年3月31日，该公司持有11509比特币，目前价值超过10亿美元，此前该加密货币的价格上涨了6％，至93000美元。

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

尽管收入令人失望，股价下跌以及电动汽车销量放缓，但特斯拉仍保持了对比特币的战略关注。

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，该公司持有11,509个比特币，该比特币略有6％至93,000美元，推动了投资组合价值刚刚超过10亿美元。

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.

在特斯拉今年的股价下跌41％之后，这一发展是在首席执行官埃隆·马斯克（Elon Musk）的政治参与的日益审查之后的。

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

该公司第1季度的2025年收入达到了193.4亿美元，距离华尔街预测的213.7亿美元不足。

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.

短缺主要归因于该公司的主要业务（电动车）的交付下降了13％，产量下降了16％，导致其核心部门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.

尽管特斯拉的交货人数下降反映了更广泛的行业挑战，但该公司的某些斗争是独一无二的，对马斯克对政治任命的双重关注和社交媒体评论的持续抗议和担忧增加了投资者的不安。

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.

尽管如此，在本季度内未对特斯拉的比特币位置进行任何变化，这表明明确的意图是将其作为长期资产。

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月收购的，其中约有75％于2022年7月被出售。此后，其余的剩余时间都没有触及。

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，这个藏匿处的价值约为107.6亿美元。但是，到2025年第一季度结束时，比特币的下降12％的下降已将投资组合的价值降低到9.51亿美元左右。

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

但是，随着比特币价格的反弹至93,000美元，该投资组合的价值已攀升到10亿美元的大关上。

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.

财务会计标准委员会（FASB）引入的新规则要求公司在每个季度末标记其数字资产持有量以市场价值。

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

在这个政权下，由于比特币的集会，特斯拉在第4季度的第4季度未实现6亿美元的未实现收益。

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）的决定不买或出售第1季度2025年的任何比特币，反映了一种“ hodl”策略，类似于其他公司持有人，例如战略和metaplanet，这些策略将比特币视为对冲或战略储备。

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·马斯克（Elon Musk）以对狗狗币（Doge）的支持而闻名，他宣布了计划减少他参与模因硬币的计划，并在2025年5月转移了他的时间分配，而Doge行动变得更加自给自足。

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

由于分析师呼吁采取紧急战略行动，因此对特斯拉的重新关注。

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）将公司的处境描述为“代码红色”，这表明特斯拉可能需要重新考虑其财务战略的一部分，包括如果当前的挑战持续存在，它如何处理其比特币持有量。

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

同时，Beincrypto预测，由于全球经济不确定性和贸易压力，加密货币市场将保持波动，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，对数字资产，尤其是比特币的更广泛的前景对下半年更加乐观，分析师期望在美国，备用后效应，机构购买和监管性清晰度会带来反弹。

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.

当特斯拉（Tesla）导航金融动荡时，其对加密货币的坚定立场表明，它不仅仅是一个下注，而且是计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.

该策略在第二季度及以后的收益是否可能取决于马斯克的领导，就像比特币的下一步行动一样。