Elon Musk could soon control one of the largest bitcoin companies stakes in the public markets if Tesla and SpaceX eventually merge, according to reports on ongoing internal discussions about combining the companies.
CNBC reported Tuesday that Musk has discussed with colleagues the possibility of uniting Tesla and SpaceX, citing people familiar with the talks. A current Tesla employee told CNBC that many workers at the electric vehicle company have long expected such a transaction to finally happen and that the possibility is openly discussed internally.
Another person close to the company reportedly said that the growing overlap between the businesses, particularly around electrical infrastructure and computing limitations 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 owns 11,509 bitcoins, while SpaceX owns 18,712 bitcoins, according to public disclosures and blockchain treasury tracking data. Combined, the companies would control 30,221 bitcoins worth approximately $3.3 billion at current prices.
That total would make the combined company the fifth-largest public corporate holder of bitcoins globally.
The combined holdings would only trail the strategy of Michael Saylor (MSTR), bitcoin investment firm Twenty One Capital (XXI), Jack Mallers’ bitcoin-focused venture firm, and bitcoin mining companies Metaplanet and Marathon Digital Holdings (MARA).
SpaceX is also expected to begin trading on the Nasdaq next month after gaining a private market valuation of about $1.25 trillion earlier this year following its merger with Musk’s artificial intelligence company, xAI.
A combination between Tesla and SpaceX would further bolster Musk’s growing network of interconnected technology businesses spanning electric vehicles, aerospace, artificial intelligence, payments and communications infrastructure.
Neither Tesla nor SpaceX have publicly confirmed their merger plans.
Tesla first revealed bitcoin purchases in 2021 and briefly accepted the cryptocurrency for vehicle payments before discontinuing the option over environmental concerns related to bitcoin mining. Musk remains one of the most influential public figures in the cryptocurrency markets, often moving prices through comments on bitcoin and dogecoin (DOGE).
