Tesla, SpaceX Weigh Merger: Combined 30,221 BTC Treasury

The boards of Tesla and SpaceX have formed special committees of independent directors to weigh a possible merger, Elon Musk said on SpaceX's third-quarter earnings call on the evening of October 20 ET. If a deal happens, two of the largest corporate bitcoin holders would sit under one roof: 30,221 BTC combined, based on their latest disclosures.

Details

According to Fox Business, Musk called the idea a good one but said it is "really up to the special committees," and that he recuses himself from the talks because of a conflict of interest. SpaceX shares rose as much as 8% in extended trading. Decrypt and 24/7 Wall St. report the same committee details. No terms have been set, and Musk cautioned that a deal is not certain. Neither company has published a merger agreement.

The bitcoin positions come from filings. Tesla held 11,509 BTC as of March 31, 2026; SpaceX held 18,712 BTC as of June 30 (per XTB, citing SpaceX's disclosures). That adds up to 30,221 BTC. SpaceX's Q3 release values digital assets at $1.573B and does not give a coin count as of September 30. More in our SpaceX report.

What it means for the market

The merger is only being studied, so it changes nothing for either bitcoin holding today: no purchases or sales have been announced. But a combined company would be one of the most prominent corporate BTC holders, with a single board deciding on the treasury.

What follows depends on the committees' conclusions and the regulatory filings a deal would require. For the live bitcoin price see the homepage and the coin page. This is not investment advice.