Add as a preferred source on GoogleSpaceX, Tesla Merger Review Could Combine 30,221 Bitcoin
The companies had not agreed on transaction terms as of Oct. 20. The BTC total combines separate June 30 disclosures.
SpaceX and Tesla have formed independent-director committees to consider a possible merger, a process that could combine 30,221 Bitcoin (BTC) disclosed by the companies as of June 30.
Elon Musk, CEO of SpaceX and Tesla, said during SpaceX’s third-quarter webcast Oct. 20 at 4:30 p.m. ET (20:30 UTC) that directors at both companies had formed committees to review a possible deal. The committees had not agreed on transaction terms. Musk said he was excluded from their discussions because he was a conflicted party.
“Some people out there assume that a SpaceX and Tesla merger is a certainty, and I think that would be overstating it,” Musk said.
As of June 30, SpaceX held 18,712 BTC, while Tesla held 11,509 BTC, acquired for $386 million. Added together, the disclosed positions equal 30,221 BTC, a combined total neither company stated as its own figure.
As of Sept. 30, SpaceX’s digital assets were valued at $1.573 billion and Tesla’s at $962 million. Neither update gave an updated BTC count.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.