Musk’s SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth

Elon Musk said the Tesla and SpaceX boards have formed committees to evaluate a potential merger that would combine Tesla's 11,509 BTC with SpaceX's 18,712 BTC, roughly $2.5 billion in bitcoin, onto one balance sheet. The combined entity would become one of the largest corporate bitcoin holders, concentrating a major supply of coins under a single Musk-controlled treasury. Traders would read the news as a signal of continued institutional accumulation and reduced likelihood of either firm selling, though the deal is only under evaluation and may not proceed.