SpaceX and Tesla formed committees of independent directors to examine a potential merger, Elon Musk revealed during SpaceX’s third-quarter earnings call. The committees were created at shareholders’ request, and Musk was excluded from their discussions because of his conflict of interest. According to their latest disclosures, Tesla holds 11,509 BTC and SpaceX holds 18,712 BTC, bringing their combined holdings to 30,221 Bitcoin. A merger would create a company valued at about $3.6 trillion at current prices, making it one of the largest publicly traded corporate Bitcoin holders behind a handful of digital treasury firms such as Strategy. SpaceX shares also rallied 9% in premarket trading on Wednesday after results beat expectations, while the tokenized products SPCXB and SPCXx gained more than 10% and about 9% over 24 hours, respectively.
Source: Read the original article
