Elon Musk is exploring a merger between SpaceX and Tesla, potentially consolidating over $2.2 billion in Bitcoin holdings.
Elon Musk Considers SpaceX and Tesla Merger
Elon Musk is reportedly contemplating a merger between SpaceX and Tesla as SpaceX approaches its initial public offering (IPO). This union could consolidate their significant Bitcoin holdings, which exceed 30,000 BTC, valued at over $2.2 billion.
If the merger occurs, the new entity would rank as one of the top five publicly traded companies in terms of Bitcoin ownership. Currently, SpaceX holds 18,712 BTC worth approximately $1.4 billion, based on its recent IPO filing. This Bitcoin was acquired for around $661 million and has been retained since at least 2024.
Tesla contributes an additional 11,509 BTC, valued at about $862 million according to its latest financial disclosures. Together, these holdings would position the merged company within the top 10 Bitcoin treasuries globally, specifically at the fifth position, according to recent filings.
Musk has been vocal about his support for Bitcoin, although he personally owns only about 0.25 BTC, valued near $19,000. His more extensive history lies with Dogecoin, which he has promoted as the 10th largest cryptocurrency by market cap.
The potential merger aligns with Musk's recent efforts to integrate various ventures, including his social media platform X with xAI. Sources indicate that discussions about merging SpaceX and Tesla are ongoing, reflecting a strategy to leverage shared resources.
As SpaceX gears up for an IPO, it targets a valuation of approximately $1.75 trillion, which would mark the largest IPO in history. Meanwhile, Bitcoin has seen a slight decline of 1.3% over the past day, trading at $75,021, significantly below its peak of $126,080 from last October.
