Tesla SpaceX Merger Could Create Fifth-Largest Corporate Bitcoin Treasury Worth $3.3 Billion

TLDR

• Elon Musk is reportedly exploring a merger between Tesla and SpaceX, according to CNBC sources.
• Tesla holds around 11,509 bitcoin and SpaceX holds 18,712 bitcoin — combined, that’s 30,221 bitcoin worth roughly $3.3 billion.
• A merged company would become the fifth-largest public corporate bitcoin holder globally.
• SpaceX filed an S-1 with the SEC ahead of a planned Nasdaq IPO, with a private valuation of around $1.25 trillion.
• The SpaceX IPO filing revealed the company holds more than double the bitcoin that analysts previously estimated.

A potential merger between Tesla and SpaceX could create one of the largest corporate bitcoin treasuries in the world, according to reports of internal discussions at the companies.

CNBC reported on May 27, 2026 that Elon Musk has discussed folding Tesla and SpaceX together, citing people familiar with the talks. Current Tesla employees say a merger has been openly expected internally for some time.

The growing overlap between the two businesses — especially around power infrastructure and artificial intelligence computing — has reportedly increased collaboration between them.

How Big Would the Combined Bitcoin Holdings Be?

Tesla currently holds 11,509 bitcoin. SpaceX holds 18,712 bitcoin, according to public disclosures and blockchain tracking data.

Combined, the two companies would control 30,221 bitcoin, valued at roughly $3.3 billion at current prices.

That would rank the merged company as the fifth-largest public corporate bitcoin holder in the world. It would trail only Strategy, Twenty One Capital, Metaplanet, and Marathon Digital Holdings.

SpaceX’s bitcoin position was larger than most analysts had previously estimated. The company’s S-1 filing with the SEC revealed it holds just over 18,700 bitcoin at a fair value of around $1.3 billion, acquired at an average cost of about $35,000 per bitcoin.

That figure is more than double the roughly 8,300 bitcoin that blockchain analytics firm Arkham had previously linked to SpaceX.

SpaceX IPO Plans and Current Financials

SpaceX is preparing to go public on the Nasdaq as early as next month. The company filed an S-1 registration statement with the SEC following a merger with Musk’s artificial intelligence company, xAI.

SpaceX was valued at roughly $1.25 trillion in private markets earlier this year. The company is reportedly targeting a valuation of up to $2 trillion for the IPO, with plans to raise around $75 billion.

The S-1 filing showed first-quarter revenue of $4.7 billion and a net loss of $4.3 billion. Starlink, the company’s satellite internet division, is described as its primary profit and growth driver.

SpaceX claims its total addressable market is around $28.5 trillion.

Binance has also launched pre-IPO perpetual futures contracts tied to SpaceX, allowing traders to speculate on the company’s valuation before shares become publicly available.

Tesla first bought bitcoin in 2021 and briefly accepted it as payment for vehicles. The company later suspended that option over environmental concerns tied to bitcoin mining energy use.

Neither Tesla nor SpaceX has publicly confirmed any merger plans.

Musk has remained a prominent figure in crypto markets, though his public commentary on bitcoin has been less frequent in recent years. He has continued to back bitcoin and dogecoin, and has criticized the U.S. dollar, calling it “hopeless.”

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