29 May 2026
922
Elon Musk is preparing to enter the top 5 largest Bitcoin holders. What does this mean for the crypto market
Elon Musk is actively discussing a possible merger of Tesla and SpaceX, which would unite 30,221 BTC worth about $3.3 billion under one company. If the deal is concluded, the combined corporation will become the fifth largest corporate holder of Bitcoin among public companies in the world.
30,221 BTC on the balance sheet: how Tesla and SpaceX became large Bitcoin holders
The story began back in 2021, when both of Elon Musk's companies entered Bitcoin almost simultaneously. Tesla officially disclosed the purchase of $1.5 billion in Bitcoin in February 2021. SpaceX also began accumulating coins around the same time.
However, the companies' strategies later diverged. Tesla sold about 75% of its Bitcoin during the 2022 bear market. As of today, the company has 11,509 BTC remaining on its balance sheet.
SpaceX, on the other hand, has shown much more restraint. In its IPO documents filed with the SEC, the company disclosed holdings of 18,712 BTC with an average purchase price of about $35,320 per coin (total cost — $661 million).
Before the publication of these documents, analytical platforms BitcoinTreasuries and Arkham Intelligence estimated SpaceX’s reserves at only 8,285 BTC. The real figure turned out to be more than twice as high.
Tesla and SpaceX merger: why the market is closely following the negotiations
According to CNBC, Elon Musk is discussing with management the possibility of combining Tesla and SpaceX. Sources report that Tesla employees have long expected such a deal, and the companies’ businesses increasingly overlap in the areas of energy and AI infrastructure.
One of SpaceX’s early investors called the merger “a matter of time, not opportunity” in an interview with Bloomberg. So far, none of the companies have officially confirmed the talks.
If the merger is successful, the new company will automatically enter the top 5 corporate holders of Bitcoin. For comparison, the following will remain ahead:
Strategy (formerly MicroStrategy) — 843,738 BTC
Twenty One Capital — over 43,000 BTC
Marathon Digital (MARA) — about 38,689 BTC
Metaplanet
Market and accounting implications
SpaceX plans to conduct an IPO on Nasdaq under the ticker SPCX on or about June 12, 2026. The company expects to raise up to $75 billion at a valuation of $1.75 to $2 trillion. This will be the largest IPO in history.
After going public, SpaceX’s position in Bitcoin will become fully transparent. In addition, the company will be required to reflect BTC at fair value in accordance with new FASB rules. In the event of a merger with Tesla, the volatility of over 30,000 BTC will significantly affect the quarterly reporting of the combined corporation.
What does this mean for the crypto market
The emergence of such a powerful public company with a large position in Bitcoin will significantly strengthen the trend of corporate adoption of BTC. Currently, more than 100 public companies hold more than 1.24 million BTC on their balance sheets - this is more than 5% of the total emission.
AsicFIX, as a leading service for the repair and maintenance of ASIC miners in Ukraine, notes that the growth of institutional interest in Bitcoin has a positive effect on the entire crypto industry - from corporate holdings to industrial mining.
The direct impact on the price of Bitcoin from the merger itself will be minimal, since this is only a movement of already existing coins. However, the symbolic significance of the event is enormous: one of the most influential companies in the world continues to believe in Bitcoin for the long term.
Conclusion
Even if the Tesla-SpaceX merger doesn’t happen, SpaceX’s IPO on June 12, 2026 will make 18,712 BTC fully visible to the market. Any further actions by Elon Musk with his Bitcoin reserves will be closely watched by investors.
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