Elon Musk could soon control one of the largest corporate bitcoin holdings in public markets if Tesla and SpaceX ultimately merge, according to reports surrounding ongoing internal discussions about combining 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 vehicle company have long expected such a transaction to eventually happen and that the possibility is openly discussed internally.
Another person close to the company reportedly said growing overlap between the businesses — particularly around power infrastructure and computing constraints 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 blockchain treasury tracking data. Combined, the companies would control 30,221 bitcoin worth roughly $3.3 billion at current prices.
That total would make the merged company the fifth-largest public corporate holder of bitcoin globally.
The combined holdings would trail only Michael Saylor’s Strategy (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 obtaining a private market valuation of roughly $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 businesses spanning electric vehicles, aerospace, artificial intelligence, payments and communications infrastructure.
Neither Tesla nor SpaceX has 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 tied to bitcoin mining. Musk has remained one of the most influential public figures in crypto markets, often moving prices through comments on bitcoin and dogecoin (DOGE.)