Elon Musk confirmed that SpaceX (SPCX) and Tesla (TSLA) are exploring a merger, with special committees formed at both companies to assess it. The combined company would hold 30,221 Bitcoin, including SpaceX's reported 18,712 BTC and Tesla's 11,509 BTC, worth about $2.5 billion. The comments came during SpaceX's third-quarter earnings call, where revenue rose 161% year-over-year to $14.58 billion and EPS of $0.35 beat the $0.13 Wall Street forecast. The stock, which had fallen 8% since its June IPO to $158.59 per share, rose nearly 10% after the report.
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bitcoinTSLAmergers and acquisitionsSpaceXElon Musk
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Related tickers and likely impact
TSLA
▲ Likely positiveTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/20/2026 | 373.77 |
| Change that session | +1.55% |
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/20/2026 | 83,028.15 |
| Change that session | +1.33% |
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Related news
- SpaceX and Tesla explore merger that would unite more than 30,000 bitcoin
Elon Musk, CEO and shareholder of both companies, said on Tuesday that SpaceX and Tesla are exploring a potential merger, with special committees of independent directors assessing a tie-up. Combined, the two companies would hold 30,221 BTC (SpaceX 18,712 BTC, Tesla 11,509 BTC), but the committees have not agreed on any transaction terms. Musk said his interests in both companies keep him out of committee discussions and that shareholders would need to support any deal. SpaceX shares rose about 9% to $161 in premarket trading after revenue of $14.58 billion beat the $12.7 billion consensus and EPS of 35 cents beat the 15-cent forecast. Tesla reports after Wednesday's close, with analysts expecting revenue of $28.13 billion and adjusted EPS of 44 cents.
- Musk says SpaceX-Tesla merger a 'good idea' as AI revenue jumps ninefold
Elon Musk said on SpaceX’s third-quarter earnings call that a merger with Tesla would be “a good idea,” a deal that could create a roughly $3.5 trillion company combining AI, space and electric vehicles. Both companies have formed special committees of independent directors at shareholders’ request, and Musk said he cannot take part due to his conflict, adding that no terms have been agreed and a Tesla vote would need 50% of all shares. SpaceX’s revenue rose 161% to $14.6 billion, with its Super Intelligence segment generating $7.6 billion, up 830%, to become its largest revenue source. A combined company would hold about 30,221 BTC, based on SpaceX’s 18,712 BTC and Tesla’s 11,509 BTC as of June 30, making it the sixth-largest public Bitcoin treasury.
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Elon Musk confirmed that SpaceX and Tesla have each formed special committees to evaluate a potential merger, which would combine around 30,000 Bitcoin under one company. No terms have been agreed, and neither company has disclosed the merger price, exchange ratio, structure or timeline, or broken down its BTC holdings. At current prices, 30,000 BTC is worth about $2.5 billion, roughly 0.073% of the combined market value of both companies. The article argues a merger would only consolidate existing coins and create new demand if the combined company buys more, and that it could use Bitcoin as a source of funds if needed. Polymarket puts the chance of an official announcement by December 31 at 19.5%.
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Elon Musk backs the strategic case for merging Tesla and SpaceX but warns a deal is far from certain, as two special committees must agree on terms and Tesla shareholders must vote. Analysts expect a merger by end-2027 and say the combined company could cut duplicated costs and improve borrowing access, while Musk's voting power at Tesla could rise from about 20% to roughly 57–58%. Barclays floated an illustrative exchange ratio of 0.7 SpaceX shares per Tesla share, but no ratio has been negotiated. Key hurdles include a vote requiring a majority of all Tesla shares, so uncast votes would count against the deal, plus likely governance scrutiny over Musk's leadership of both firms and Tesla's 2016 SolarCity acquisition. Tesla reports third-quarter results after the close on Wednesday, and its annual shareholder meeting is on December 3.
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SpaceX shares rose 11% after third-quarter revenue jumped 161% to $14.6 billion and net income swung to $4.4 billion from a $1.1 billion loss a year earlier. Its AI segment, Super Intelligence, generated $7.56 billion in revenue and a $431 million operating profit, surpassing the Connectivity segment that houses Starlink. Capex was $16.4 billion in the quarter alone, and $48.1 billion over the first nine months against $13.1 billion of operating cash flow, so the company is relying on its $89.9 billion of cash and marketable securities. Elon Musk said the boards of Tesla and SpaceX have formed special committees to review a possible merger, with no terms or timeline yet.
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