SpaceX and Tesla explore merger that would unite more than 30,000 bitcoin
Elon Musk has confirmed that SpaceX and Tesla are exploring a potential merger, which would consolidate their combined holdings of over 30,000 Bitcoin. Special committees have been formed to evaluate the deal, though Musk is recused from the discussions.
Why it matters
A merger between two of Musk's most prominent companies would create a massive entity with significant influence over both the AI and cryptocurrency markets.
Musk owns about 36% of space and AI-focused SpaceX outright , rising to 48.4% including restricted shares and unexercised options, according to a June filing. His reported beneficial ownership of electric-car maker Tesla is 19.8%, including restricted compensation shares.
Speaking during SpaceX’s third-quarter earnings call, Musk said both companies had formed special committees of independent directors to assess a tie-up. A combination would unite SpaceX’s reported 18,712 BTC and Tesla’s 11,509 BTC, for a total of 30,221 BTC.
“Do I think it would be a good idea, yes. But at the end of the day, the shareholders have to be supportive of this,” he said.
His interests in both companies prevent him from participating in committee discussions.
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