Tesla and SpaceX Could Unite $2.5B in Bitcoin Without Buying a Single BTC

Tesla reported this week that it still holds 11,509 bitcoin and has not sold its remaining holdings. SpaceX disclosed 18,712 bitcoin in its June IPO filing, bringing their combined holdings to 30,221 bitcoin, worth about $2.5 billion at current prices. Elon Musk said on SpaceX’s Tuesday earnings call that the companies have formed special committees of independent directors to study a proposed merger, but no terms have been agreed and shareholder approval is required. Tesla would need backing from holders of 50% of all shares, which Musk called a high hurdle.