SpaceX and Tesla have each formed a special committee of independent directors to study a merger, Elon Musk said on SpaceX’s third-quarter earnings call on Tuesday, Reuters and CNBC reported. SpaceX held 18,712 BTC at 30 June, according to its quarterly filing, and Tesla 11,509 BTC, according to its own. Combined, that is 30,221 BTC. This is the first time CryptoWatchDesk has covered either company’s holdings.
The bitcoin is a footnote to the deal, not a reason for it. At $83,430, the Kraken price at 09:41 UTC on Wednesday, 30,221 BTC is worth about $2.5 billion. The BBC put the two companies’ values at roughly $1.5 trillion and $2 trillion, so the coins would be about 0.07% of a combined group. The stack would also be about 3.6% of the 848,517 BTC that Strategy reported on 19 Oct (Strategy’s latest filing).
Neither company has changed its coin count in its 2026 quarterly filings. Both report the same number at 30 June as at 31 December 2025. SpaceX’s third-quarter release, filed on 20 Oct, values its digital assets at $1.573 billion at 30 September, against $1.637 billion at the end of 2025, without giving a coin count.
No terms have been agreed. “The special committees have not reached agreement on terms of any transaction and there’s no guarantee that they will,” Musk said, the BBC reported. He said he backs the idea but, as a conflicted party, is not part of the talks. A Tesla deal would need approval from 50% of all its shares, he added, according to CNBC. A person familiar with the matter told Reuters the talks could lead to SpaceX buying Tesla.
The two are already linked. Tesla has held an equity stake in SpaceX since March, its quarterly filing shows. Tesla reports third-quarter results after the US close on Wednesday, and its 2026 annual meeting is set for 3 Dec, according to its proxy statement filed on 19 Oct.
This article is for information only and is not investment advice.