In brief
- A CNBC report suggests that Elon Musk aims to combine his firms SpaceX and Tesla as the former’s IPO looms.
- The pair collectively owns more than 30,000 BTC according to new filings, valued at more than $2.2 billion in total.
- The combined public entity would rank inside the top five of publicly traded Bitcoin treasuries.
The combination of SpaceX and Tesla—a reported possibility—could put the world’s richest man, Elon Musk, in direct control of more than 30,221 Bitcoin valued at about $2.27 billion.
The move would place the combined firm comfortably inside the top 10 publicly traded Bitcoin treasuries, ranking it #5 according to the most recent filings.
Whether or not the Musk-led mega-firm will exist remains to be seen, but speculation is growing that the world’s richest man wishes to combine the firms, according to a report from CNBC. Musk has already combined social media platform X with his xAI artificial intelligence firm, and is now in the process of merging xAI with SpaceX, as well.
“The two companies already have a laundry list of shared resources, and Musk has discussed with colleagues the possibility of folding the companies together,” the report says, citing people familiar with the discussions.
SpaceX’s Bitcoin position was revealed last week when it filed for an IPO, showcasing holdings of 18,712 BTC worth more than $1.4 billion. The firm acquired that Bitcoin for just $661 million and has held its current allotment since at least 2024, according to its SEC filing.
The firm reportedly moved funds on-chain for the first time in three years last July, according to on-chain labeling data from Arkham Intelligence. It once more moved around $94 million worth of BTC in December, but data gathered at the time pointed to the firm holding less than 9,000 BTC in total—less than half of what it actually holds, according to its recent SEC filing.
That position would pair with Tesla’s 11,509 BTC worth around $862 million, according to its most recent 10-Q filing.
Musk previously identified himself as a supporter of the top crypto asset by market cap, but disclosed in 2020 that despite his many riches, he only owned around 0.25 BTC, now valued at nearly $19,000.
The outspoken entrepreneur has a much more vocal history with Dogecoin (DOGE), the Shiba Inu-based meme coin that ranks as the 10th largest crypto asset by market cap.
If SpaceX does go public, the Starbase, Texas-based firm is seeking a valuation of around $1.75 trillion, which would make the largest initial public offering in history.
Bitcoin is down around 1.3% in the last 24 hours, recently changing hands at $75,021. It currently sits more than 40% off its all-time high of $126,080 set last October.
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