Tesla and SpaceX Could Unite $2.5B in Bitcoin Without Buying a Single BTC

Musk's merger idea could unite 30,221 BTC across Tesla and SpaceX, but "adding the balances together is not itself a bullish flow." Tesla hasn’t sold any of its remaining Bitcoin. And a possible merger with SpaceX could put both companies’ Bitcoin under one corporate roof. SpaceX disclosed 18,712 BTC in its June IPO filing. Tesla reported this week that it still holds 11,509 BTC. That brings their combined stash to 30,221 BTC, worth around $2.5 billion at current prices. If the two companies merge, their combined stash would rank sixth among public companies, ahead of Coinbase and Bullish but behind MARA Holdings. Musk’s Potential SpaceX-Tesla Merger Elon Musk discussed the proposed merger during SpaceX’s earnings call on Tuesday. He said both companies had formed special committees of independent directors to study the idea. Musk thinks a merger would make sense, but there’s no deal yet. The committees haven’t agreed on terms, and shareholders would still need to approve it. Tesla needs backing from holders of 50% of all shares, which Musk called a high hurdle. Tesla hasn’t always held on to its Bitcoin. It first disclosed a $1.5 billion purchase in February 2021, saying the move ...