Musk Weighs Tesla-SpaceX Merger, Creating $3.3B Bitcoin Powerhouse

Elon Musk has reportedly discussed merging Tesla and SpaceX with colleagues, a move that would create a combined Bitcoin treasury worth approximately $3.3 billion and position the merged entity as a top-five corporate holder of the cryptocurrency, according to a CNBC report on May 27 citing people familiar with the conversations.

Neither company has publicly confirmed any merger plans, but a current Tesla employee told CNBC that a combination of the two companies has been expected internally for some time and is openly discussed among staff. A separate person close to the situation said the growing overlap in power infrastructure and AI computing has increased collaboration between the firms.

Combined Bitcoin Holdings Would Rank Fifth

Tesla currently holds 11,509 Bitcoin (BTC) on its balance sheet, according to public disclosures. SpaceX owns 18,712 BTC, based on blockchain treasury tracking data. A merged entity would control 30,221 BTC worth roughly $3.3 billion at current prices, placing it fifth among all public corporate holders of the cryptocurrency.

The combined treasury would trail only Michael Saylor's Strategy, Twenty One Capital, Metaplanet, and Marathon Digital Holdings. This consolidation underscores Musk's influence in the crypto space, where his public statements have historically moved markets for both Bitcoin and Dogecoin.

SpaceX Set for Nasdaq Listing

SpaceX is expected to begin trading on Nasdaq next month following its completed merger with Musk's AI company, xAI. The company secured a private market valuation of roughly $1.25 trillion earlier in 2026 ahead of that listing. A Tesla–SpaceX merger would consolidate businesses spanning electric vehicles, aerospace, AI, communications infrastructure, and payments under a single corporate structure.

Market reaction has been muted so far, with European stocks falling on Thursday amid geopolitical tensions, while U.S. indices like the Nasdaq showed slight gains. The broader market context includes rising oil prices and uncertainty in the Middle East, but the merger talks have injected a fresh narrative into the corporate landscape.

Implications for Corporate Bitcoin Adoption

If the merger proceeds, the combined entity's Bitcoin holdings would signal a strong endorsement of cryptocurrency as a corporate treasury asset. Tesla first disclosed BTC purchases in 2021 and briefly accepted the cryptocurrency as payment for vehicles, later suspending that option over environmental concerns. SpaceX's holdings, tracked via blockchain data, have not been officially confirmed but are widely accepted in the crypto community.

The merger would also highlight the increasing convergence of technology sectors—AI, aerospace, and automotive—with digital assets. Musk's track record of influencing crypto markets suggests that any official announcement could trigger significant price movements.

While the talks remain in early stages, the potential for a Tesla-SpaceX merger represents a landmark event for both the corporate and crypto worlds. Investors will be watching for further developments, particularly as SpaceX's Nasdaq listing approaches.

Key Takeaways

1. Elon Musk has discussed merging Tesla and SpaceX, per CNBC sources.
2. The combined entity would hold 30,221 BTC worth $3.3 billion, ranking fifth among corporate holders.
3. SpaceX is expected to list on Nasdaq next month after merging with xAI.
4. The merger would consolidate EV, aerospace, AI, and crypto operations.