Elon Musk could soon control one of the largest corporate bitcoin stocks in public markets if Tesla and SpaceX eventually merge, according to reports of ongoing internal discussions to merge the companies.
CNBC reported Tuesday that Musk has discussed with colleagues the possibility of folding Tesla and SpaceX together, citing people familiar with the talks. A current Tesla employee told CNBC that many workers at the electric car company have long expected such a transaction to eventually happen, and that the possibility is being openly discussed internally.
Another person close to the company reportedly said that growing overlap between the companies — particularly around power infrastructure and computing limitations tied to artificial intelligence — has increased collaboration between the firms.
The potential merger would also create one of the largest corporate bitcoin treasuries in the world.
Tesla currently holds 11,509 bitcoin, while SpaceX owns 18,712 bitcoin, according to public disclosures and tracking data from the blockchain treasury. Together, the companies would control 30,221 bitcoins, worth about $3.3 billion at current prices.
The total amount would make the merged company the fifth-largest public company owner of bitcoin globally.
The combined holdings would only follow the strategy of Michael Saylor (MSTR), bitcoin investment firm Twenty One Capital (XXI), Jack Mallers’ bitcoin-focused venture, and bitcoin mining companies Metaplanet and Marathon Digital Holdings (MARA.)
SpaceX is also expected to begin trading on the Nasdaq next month after achieving a private market value 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 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 merger plans.
Tesla first disclosed bitcoin purchases in 2021 and briefly accepted the cryptocurrency for vehicle payments before suspending the option over environmental concerns linked to bitcoin mining. Musk has remained one of the most influential public figures in crypto markets, often moving prices through comments about bitcoin and dogecoin (DOGE.)
