If Musk merges SpaceX and Tesla, it could create a corporate giant holding over 30,000 BTC
Odaily reports: Musk stated on SpaceX's Q3 earnings call that both the SpaceX and Tesla boards have established independent special committees of directors to evaluate the possibility of a merger between the two companies.
According to Tesla's latest quarterly filings and the S-1 filing submitted by SpaceX ahead of its IPO, the two companies hold 11,509 and 18,712 bitcoins respectively, totaling 30,221 bitcoins. At a bitcoin price of approximately $83,000, this is worth about $2.5 billion. The combined cost basis of the two companies' bitcoin holdings is approximately $1 billion, with an average purchase price of about $35,000 per coin. If the merger is completed, these bitcoins would be consolidated onto a single company's balance sheet, placing the combined entity among the publicly traded companies holding the most bitcoin globally. However, neither company has disclosed plans to increase or sell its bitcoin holdings, and the merger remains in the preliminary evaluation stage. (Decrypt)

