SpaceX and Tesla Form Committees to Explore Merger Holding Over 30,000 Bitcoin
The two Elon Musk companies have set up special committees to assess a possible tie-up, a deal that would combine their bitcoin holdings and could dilute shareholders.
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AfroEuropa desk
Tesla and SpaceX have each established special committees within their corporate boards to examine a potential merger of the two companies, according to Elon Musk, who serves as chief executive of both. Engadget reported that Musk said the combination is not a certainty.
According to CoinDesk, a tie-up would bring together holdings of more than 30,000 bitcoin across the two companies. CoinDesk also reported that independent committees are reviewing the possible deal, with strong SpaceX earnings lifting shares ahead of Tesla's results.
Electrek reported that the merger could affect not only Tesla and SpaceX shareholders but also investors with exposure to major stock indices, as such a deal would dilute shareholders.
Separately, CoinDesk noted that strong results from SpaceX and Super Micro contributed to a rise in Asian chip stocks, during a period when bitcoin was trading around $83,000.
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