SpaceX and Tesla could announce a merger as soon as December, Bloomberg reported on Thursday, November 12, citing people familiar with the matter, CoinDesk said. Boards and advisers are still working out terms and how a combined company would be run, and the announcement could slip into early 2027. Neither company has announced a deal. Tesla’s board has formed an independent committee to assess a combination, and any agreement would need its recommendation and any required shareholder approval. Tesla’s annual meeting is scheduled for December 3.
The bitcoin angle comes from company filings. CoinDesk reported that SpaceX held 18,712 BTC and Tesla 11,509 BTC at the end of September, per their quarterly SEC filings, both unchanged from December 2025. Together that is 30,221 BTC, worth about $2.1 billion at a price near $69,000, or roughly 0.06% of the companies’ combined market value of about $3.4 trillion, CoinDesk calculated.
A merger would combine existing holdings and would not by itself require either company to buy more bitcoin, the outlet noted. It also said SpaceX is valued above $1.9 trillion after its June IPO and Tesla at about $1.5 trillion. Bloomberg listed keeping Tesla’s Chinese manufacturing separate from SpaceX’s U.S. defense work as a key obstacle.
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