Elon Musk could soon control one of the biggest Bitcoin companies holdings on the public markets if Tesla and SpaceX ultimately merge, according to reports surrounding the companies’ ongoing internal discussions about merging.
CNBC reported Tuesday that Musk had discussed with colleagues the possibility of merging Tesla and SpaceX, citing people familiar with the discussions. A current Tesla employee told CNBC that many workers at the electric vehicle company had long expected such a transaction to happen and that the possibility was openly discussed internally.
Another person close to the company was quoted as saying that the growing overlap between the companies – particularly when it comes to power infrastructure and IT constraints linked to artificial intelligence – has increased collaboration between the companies.
The potential merger would also create one of the largest corporate Bitcoin treasuries in the world.
Tesla currently holds 11,509 bitcoins, while SpaceX owns 18,712 bitcoins, according to public disclosures and blockchain treasury tracking data. Together, the companies would control 30,221 bitcoins worth about $3.3 billion at current prices.
This total would make the combined company the fifth largest public bitcoin holding company in the world.
The combined holdings would only track the strategy of Michael Saylor (MSTR), Bitcoin investment firm Twenty One Capital (XXI), Jack Mallers’ Bitcoin-focused business, and Bitcoin mining companies Metaplanet and Marathon Digital Holdings (MARA.)
SpaceX is also expected to begin trading on Nasdaq next month after securing a private market valuation of around $1.25 trillion earlier this year following its merger with Elon Musk’s artificial intelligence company xAI.
A combination between Tesla and SpaceX would further tighten Musk’s growing network of interconnected technology companies spanning electric vehicles, aerospace, artificial intelligence, payments and communications infrastructure.
Neither Tesla nor SpaceX have publicly confirmed their merger plans.
Tesla first disclosed bitcoin purchases in 2021 and briefly accepted the cryptocurrency for vehicle payments before suspending the option due to environmental concerns related to bitcoin mining. Musk has remained one of the most influential public figures in the crypto markets, often moving prices via comments on Bitcoin and Dogecoin (DOGE.)
