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Tesla Inc reported its worst quarter in years but but it wouldn’t be possible to guess that from its “adjusted earnings.” The EV giant reported adjusted (non-GAAP) earnings of $900 million, more than double its official net income of $400 million. It seems like Tesla pulled a rabbit out of an earnings hat and it had crypto written all over it. The EV giant quietly scrubbed out $97 million in crypto losses and tossed out a bigger chunk of stock-based compensation. This comes in when its CEO, Elon Musk, stated that he would cut back the time that he gives in to the Trump administration. This isn’t the first time that Elon Musk led Tesla to use digital assets to dress up the numbers. When Bitcoin rallied in late 2024, Tesla included a $600 million gain in its non-GAAP figures. Meanwhile, it still holds over $1 billion in Bitcoin and that might be the most stable part of its Q1 earnings. According to the latest report, Tesla owns 11,509 BTC, valued at around $1.049 billion based on Arkham Intelligence data. This comes in the wake of new FASB accounting rules, which require companies to mark their crypto holdings to market each quarter. The markdown wasn’t due to any sales drop, but rather reflecting Bitcoin performance in the first quarter. BTC price saw a downturn of 11.82% in this period. The biggest crypto is still down by 10% over the past 90 days. However, it has posted a recovery of 11% in the last 7 days. Bitcoin is trading at an average price of $93,660, at press time. The global digital assets industry is riding the recovery wave for now as the cumulative crypto market cap inches closer to the $3 trillion mark. Tesla also missed Wall Street’s expectations by pulling in $19.34 billion in Q1 revenue against the $21.37 billion analysts had forecast. Despite the undesirable earnings report, Tesla share price jumped by 6.5% in the last 5 trading sessions. It is trading at the average price of $259, while the share price is up by 4.5% in the pre-market session and might hit $264 later in the day. The US Securities and Exchange Commission (SEC) might plan to look into the matter as the watchdog has flagged similar practices before. The commission will likely keep a close eye on Tesla if it decides to suddenly include crypto gains in future quarters. Last year, the agency flagged Bitcoin miner Marathon Digital for similar creative trimming. As of now, Musk is reportedly stepping back from the D.O.G.E team as Tesla’s profits nosedive and protests heat up. The White House says this was always the plan. But here’s the twist as Musk is technically a “special government employee” which means if he works fewer days, he can extend his government tenure past May. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Ricardo Salinas Pliego, a Mexican billionaire and founder of corporate conglomerate Grupo Salinas, has recently revealed that a massive chunk of his liquid portfolio is in Bitcoin (BTC) and BTC-related assets. With an estimated net worth of $5.8 billion, Salinas is the third-richest man in Mexico and among the top 200 richest people in the world. A Case For Bitcoin In A Portfolio Despite falling prices, Salinas is incredibly bullish about the world’s largest cryptocurrency. Ricardo Salinas told Bloomberg that 70% of his liquid investment portfolio is in Bitcoin. The remaining 40% consists primarily of gold, stakes in gold mining firms, and shares in his own businesses. “I’ve got about 70% in Bitcoin-related exposure and 30% in gold and gold miners,” Salinas quipped. “I don’t have a single bond and I don’t have any other stocks except my own.” The 70% figure is up from 2020, when the business magnate revealed 10% of his portfolio was in Bitcoin — saying at the time that the asset “protects the citizen from government expropriation.” Upping his holdings highlights his increasing confidence in Bitcoin as a reliable asset for wealth preservation. Salinas And Bitcoin: A Likely Match Salinas has long been a Bitcoin advocate. In October 2020, the cloud computing expert turned Bitcoin bull shared a list of book recommendations, including The Bitcoin Standard, by economist Saifedean Ammous. Not long after, he admitted he held Bitcoin in his portfolio. And then the billionaire fell deeper into the Bitcoin rabbit hole and changed his Twitter bio to include the world’s largest crypto by market cap. Salinas has since talked about Bitcoin frequently on social media, even encouraging his Twitter (aka X) followers in a December 2021 New Year message to avoid fiat and invest in Bitcoin. The price of Bitcoin leaped to as high as $94,770 on Sunday after Trump’s announcement for a United States crypto strategic reserve. However, the asset slipped below $82,000 earlier today as President Trump’s 25% tariffs on Mexico and Canada took effect. At the time of publication, the apex crypto had rebounded to $89,742.

Current book read. Really going deep into this angel investing rabbit hole - maybe it's the secret of true wealth, I will try and find out.

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