Add as a preferred source on GoogleMusk Says Tesla and SpaceX Merger Depends on Shareholder Support
The companies’ June 30 disclosures total 30,221 BTC; their third-quarter updates gave dollar values but no newer unit counts.
Elon Musk said Tesla and SpaceX are exploring a merger, with shareholder support required and transaction terms still unsettled.
Musk, chief executive of both companies, made the comments Oct. 20 on SpaceX’s third-quarter earnings call. He said he is excluded from committee discussions because he is a conflicted party. Separate committees at the two companies are considering a possible deal.
Tesla approval would require votes representing 50% of all shares, rather than 50% of votes cast, Musk said. The threshold is based on the full share count.
Together, Tesla and SpaceX held 30,221 Bitcoin (BTC) as of June 30. SpaceX held 18,712 BTC and Tesla held 11,509 BTC, a difference of 7,203 BTC. The bitcoin remains on the companies’ separate balance sheets while the committees review the proposal.
Third-quarter financial updates valued digital assets at $1.573 billion for SpaceX and $962 million for Tesla as of Sept. 30, but provided no updated bitcoin unit counts.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.