SpaceX and Tesla Bitcoin Holdings Total 30,221 BTC

Elon Musk has floated a merger between SpaceX and Tesla that would combine their Bitcoin holdings into a single corporate treasury. The combined stash totals 30,221 BTC, valued at roughly $2.5 billion. Tesla reported holding 11,509 BTC in its most recent quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 filed ahead of its June IPO. The combined cost basis across both firms sits around $1 billion. Neither company has signaled plans to buy or sell their Bitcoin holdings.

Musk stated that the boards of both companies formed special committees of independent directors to weigh a tie-up. He recused himself from both committees. A SpaceX SEC filing states any merger with Tesla requires approval from its controlling shareholder, Elon Musk, who controls roughly 85% of SpaceX's voting power. Any deal needs the backing of 50% of all outstanding Tesla shares. Tesla's annual meeting is set for December 3. No terms for the merger have been agreed upon.

Musk cautioned that a deal is not a certainty, stating that treating it as such would be overstating it. A combined company would be worth roughly $3.5 trillion. SpaceX reported third-quarter revenue of $14.58 billion on Tuesday.