Elon Musk confirmed that Tesla and SpaceX are exploring a merger that could combine their existing Bitcoin holdings under one company.
Speaking during SpaceX's Oct. 20 earnings call, Musk said both companies had established special committees of independent directors to evaluate a potential combination. Musk described the merger as a "good idea" but said he had not yet made a final decision.
If completed, the merger would bring together the Bitcoin held separately by Tesla and SpaceX, totaling 30,221 Bitcoin, under a single corporate entity.
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