Elon Musk could soon oversee one of the largest corporate bitcoin holdings if a proposed merger between Tesla and SpaceX moves forward, according to reports of internal discussions.
CNBC reported that Musk has explored the idea of combining the two companies, a move that would more closely align his expanding technology portfolio while creating a massive shared bitcoin treasury. Sources familiar with the matter said the possibility has been discussed with colleagues, and some Tesla employees view a merger as a long-anticipated outcome.
The rationale for a potential combination appears to extend beyond corporate structure. Increasing overlap between Tesla and SpaceX — particularly in energy systems, computing infrastructure and artificial intelligence development — has reportedly driven deeper collaboration across the two companies.
A merger would also significantly reshape the landscape of corporate bitcoin holdings. Tesla currently holds 11,509 bitcoin, while SpaceX owns 18,712 bitcoin based on available disclosures and blockchain data. Together, the companies would control 30,221 bitcoin, valued at roughly $3.3 billion at current market prices.
That combined total would position the merged entity as the fifth-largest public corporate holder of bitcoin globally, behind a small group of major players including Michael Saylor’s Strategy, Twenty One Capital, ventures associated with Jack Mallers, and large-scale mining firms.
Meanwhile, SpaceX is reportedly preparing for a potential public listing, with expectations of a Nasdaq debut following a private valuation of around $1.25 trillion earlier this year after its merger with Musk’s AI venture, xAI.
Bringing Tesla and SpaceX together would further consolidate Musk’s network of companies spanning electric vehicles, aerospace, artificial intelligence and digital infrastructure, reinforcing a strategy of tighter integration across his businesses.
Neither company has confirmed plans for a merger.
Tesla first added bitcoin to its balance sheet in 2021 and briefly accepted the cryptocurrency as payment before suspending the option due to environmental concerns related to mining. Musk has since remained a highly influential figure in crypto markets, frequently impacting sentiment through his public commentary on bitcoin and other digital assets such as dogecoin.
