Tesla has seen a mixed yet profitable first quarter of 2023 that saw it beat revenue and earnings estimates. The revenue was down compared to the first quarter of 2022 but investments in cryptocurrency have paid off, with the company not selling any of its 12,000 BTC, worth an estimated $350 million. Additionally, Tesla has faced negative stock market reactions due to several price cuts in its vehicles, yet the company's stock has grown by 67.06% YTD. At the same time, other players in the cryptocurrency space have also seen excellent returns since January, with MicroStrategy rising by more than 100%. All in all, Tesla’s foray into Bitcoin has been a lucrative one, with this quarter posing strong evidence of this.



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