SpaceX and Tesla merger with 30,221 bitcoin: “at the end of the day, the shareholders have to be supportive of this”

Here is what is documented: on Tuesday, October 20, 2026, Elon Musk confirmed on SpaceX's quarterly call that SpaceX and Tesla are exploring a merger. Both companies have set up special committees of independent directors for the purpose, and nothing has been agreed on the terms of a transaction. Our assessment follows further below: the combined holding of 30,221 bitcoin is a side effect of that review, not its trigger.