Elon Musk’s two largest companies could soon bring $2.1 billion in bitcoin under one corporate roof, a small share of their combined $3.4 trillion stock market value.
SpaceX and Tesla could announce a merger as soon as December, Bloomberg reported Thursday, citing people familiar with the matter. The boards and their advisers are working out the terms and how the combined company would be run, and the announcement could still slip into early 2027.
A deal would bring nearly 30,220 bitcoin together. SpaceX held 18,712 $BTC at the end of September and Tesla held 11,509, according to their quarterly filings. Both reported those balances unchanged from December 2025.
At bitcoin’s Friday price near $69,000, that comes to about $2.1 billion. That is small next to the roughly $3.4 trillion the two companies are worth together, with SpaceX valued above $1.9 trillion following its June IPO and Tesla at about $1.5 trillion. The coins amount to about 0.06% of that total.
A merger alone would not require either company to buy more bitcoin. It would combine holdings already on their books.
The total is larger than when CoinDesk first ran the numbers in January. At that time, publicly tracked wallets pointed to nearly 20,000 $BTC between the two, with SpaceX credited with about 8,285. SpaceX’s own filings later showed 18,712, a balance it already held at the end of 2025, so the increase reflects better disclosure.
AI is central to the rationale for the talks, according to Bloomberg, with ambitions spanning rockets, driverless cars and humanoid robots.
One obstacle is how to keep Tesla’s large Chinese manufacturing operations separate from SpaceX’s sensitive U.S. government and defense work.
Tesla’s board has formed an independent committee to assess a possible combination. Its filing says a transaction would require the committee’s recommendation and any necessary shareholder approval. Tesla’s annual shareholder meeting is scheduled for Dec. 3.
Read More: SpaceX-Tesla merger talks puts nearly 20,000 bitcoin in focus
