Summary
- A report from CNBC indicates that Elon Musk is considering merging SpaceX and Tesla as SpaceX approaches an IPO.
- The two companies together possess over 30,000 BTC, which is valued at more than $2.2 billion.
- The resultant entity would rank among the top five publicly traded companies holding Bitcoin.
If SpaceX and Tesla were to merge, Elon Musk could potentially oversee more than 30,221 Bitcoin, estimated at around $2.27 billion.
This merger would position the new company firmly within the top 10 Bitcoin treasuries, placing it at #5 based on the latest filings.
While the future of a Musk-led combined company remains uncertain, there is increasing speculation regarding his interest in merging the two firms, as reported by CNBC. Musk has already integrated social media platform X with his xAI artificial intelligence venture and is also working to merge xAI with SpaceX.
According to sources familiar with the matter, “The two companies already have a laundry list of shared resources, and Musk has discussed with colleagues the possibility of folding the companies together.”
SpaceX's Bitcoin holdings were disclosed last week in its IPO filing, showing that it holds 18,712 BTC valued at over $1.4 billion. This Bitcoin was acquired for approximately $661 million and has been held since at least 2024, as per its SEC filing.
The company recently moved funds on-chain for the first time in three years last July, according to data from Arkham Intelligence. Additionally, it transferred around $94 million worth of BTC in December, but data from that time suggested it held less than 9,000 BTC, which is significantly lower than the amount indicated in its latest SEC filing.
This Bitcoin holding complements Tesla’s 11,509 BTC, valued at approximately $862 million, according to the company's most recent 10-Q filing .
Musk has previously identified himself as a proponent of Bitcoin, but he revealed in 2020 that he personally owns only about 0.25 BTC, currently worth nearly $19,000.
The dynamic entrepreneur has a much more pronounced history with Dogecoin (DOGE), the meme coin that ranks as the 10th largest cryptocurrency by market capitalization.
If SpaceX goes public, the Texas-based company aims for a valuation of approximately $1.75 trillion, which would set a record for the largest IPO in history.
Currently, Bitcoin has dropped about 1.3% over the last 24 hours, trading at $75,021, which is more than 40% below its all-time high of $126,080 reached last October.