SpaceX and Tesla have formed independent director committees to evaluate a potential merger, as announced by Elon Musk during the SpaceX third-quarter earnings call. The committees were created following shareholder requests, and Musk noted he is excluded from these discussions due to conflicts of interest.
A combined entity could reach a valuation of approximately $3,6 trillion. Such a merger would consolidate over 30 000 Bitcoin on the balance sheet, as Tesla currently holds 11 509 BTC and SpaceX reports 18 712 BTC. This would position the firm among the largest public corporate holders of the cryptocurrency.
Following the earnings report, SpaceX shares rose 9% in premarket trading. Several financial institutions adjusted their price targets, including Barclays raising its target to $300 and JPMorgan increasing its target to $500. Other firms like Wells Fargo, UBS, and Goldman Sachs also revised their forecasts.
The market also reacted to the news through tokenized assets. The SPCXB token, issued via the Binance bStocks program, increased by more than 10% over a 24-hour period. Additionally, the SPCXx token from xStocks saw a rise of approximately 9% based on on-chain data.
