An analysis said that if SpaceX and Tesla merge, their combined bitcoin holdings would total 30,221 BTC, potentially ranking them fifth globally among listed companies. SpaceX-related initial public offering disclosures have again drawn market attention to the possibility of reshuffling Elon Musk affiliates.

CoinPost, a blockchain outlet, reported on May 28 that SpaceX first disclosed its bitcoin holdings in an S-1 registration statement filed with the U.S. Securities and Exchange Commission on May 20. The filing said SpaceX held 18,712 BTC as of March 31, 2026, with an acquisition cost of about $661 million. Its average purchase price was about $35,300 per bitcoin.

Tesla has also disclosed in a previously filed 10-Q that it holds 11,509 BTC. Adding the two companies' holdings gives a total of 30,221 BTC. An assessment said that would rank about fifth globally under the current league table of listed companies by bitcoin holdings. The gap with Strategy, the largest holder at about 840,000 BTC, is large, but the combined total would place them among major global corporate holders.

Market interest has grown as SpaceX's listing push intersects with the possibility of integrating Musk affiliates. CNBC reported, citing comments by people familiar with the matter, that Musk has discussed the possibility of integrating SpaceX and Tesla with associates. The two companies are already known to share some personnel, technology and infrastructure.

Musk recently integrated social media platform X with AI company xAI, and the market has also discussed the possibility of further combining xAI and SpaceX. Wedbush analyst Dan Ives called such a scenario the "holy grail of synergy". On prediction market Kalshi, the merger possibility was at one point priced in at about 33 to 50 percent.

The disclosure also showed differences from earlier estimates by on-chain analytics firms. Arkham Intelligence had estimated SpaceX's bitcoin holdings at about 8,285 BTC, but the disclosed figure was more than double that at 18,712 BTC. This again confirmed that SpaceX began buying bitcoin in early 2021. That timing is similar to Tesla's bitcoin investment period.

There has been no official announcement so far on a SpaceX-Tesla merger. Discussions remain centered on comments by people familiar with the matter, the community and prediction markets. SpaceX is said to be planning to start its IPO roadshow in early June and to pursue a mid-June listing under the Nasdaq ticker symbol "SPCX".

As a result, the market is focusing on whether discussions about reshuffling Musk affiliates will lead to actual corporate structure changes, and how bitcoin holding strategies may be reworked in the process.