Tesla and SpaceX have created independent committees to explore a possible merger, but no transaction terms have yet been agreed. Elon Musk said he would not participate in the negotiations because of his stakes in both companies. The companies hold 18,712 BTC and 11,509 BTC respectively, creating a combined portfolio of 30,221 BTC worth about $2.508 billion at a price of $83,000 per Bitcoin. The merger, which JPMorgan describes as a potential SpaceX-led acquisition of Tesla, could combine artificial intelligence infrastructure, chip development and manufacturing capabilities, but it would face Chinese regulatory scrutiny and require approval from Tesla shareholders.
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