SpaceX-Tesla Merger and Bitcoin: What Musk Said vs What's Signed

I mean, I I I don't think we should necessarily assume that uh that a it's is I think some people out there assume that a SpaceX and Tesla merger is is a certainty and I think that would be overstating it. Uh the uh you know, do do I think it would be a good idea? Yes.

That was Elon Musk on SpaceX's earnings call on the 20th of October 2026. Somebody actually asked him about merging SpaceX with Tesla and that was his answer. Yes, he thinks it's a good idea, but please don't treat it as a done thing. So, here's the short version. Elon Musk called SpaceX Tesla merger a good idea, but there's no deal.

And if you own XRP, there's a money angle that most of the coverage skipped past. Both companies hold Bitcoin in their last reported numbers together. And a Musk mega merger would stack 30,000 Bitcoin in one company. Now, Musk called it a good idea. Then he said no guarantee in the same answer.

So, before anything else, don't trade the headline. I'm going to show you what it means for you and it's got very little to do with Musk. Keep it on the first link in the description because I'll explain who it's for before we're 5 minutes into the video and I'm going to give you a clue. It's for anyone who's ever been sure about a coin, but couldn't have told you on paper how much of it they'd keep through the bad months. And if we're honest, I've been there, you've been there, pretty much everyone's been there, right?

A billionaire says a few words on a call and by the next morning the headlines have turned them into a mega merger. And we start wondering whether we should be doing something with our own money or changing the coins we hold and what we should actually do and we end up reacting to other people's news instead of following a plan we set out at the beginning. So, here's what we're going to do. We're going to talk about what SpaceX reported, what Musk actually said about the merger, and who really gets to decide, the Bitcoin sitting on both balance sheets, and the lessons in it for anyone holding any coin, especially XRP. So, let's start with the numbers because they're why everybody was listening.

SpaceX listed on the Nasdaq in June 2026 and this was its third quarter report. Revenue came in at about 14 and a half billion dollars, up 161% on a year earlier and well ahead of what Wall Street expected. Now, profit was $4.4 billion where analysts had penciled in about $1.9 billion. Fortune called it SpaceX's first operating profit as a public company, but the part that surprised people was not rockets. Here's Yahoo Finance's Jared Blikre as the results came in.

AI revenue has is the biggest revenue component right now. It's $7.56 billion. That is versus connectivity revenue of $5.2 billion. So, now you can say SpaceX is finally an AI company and that's what I

So, the biggest earner inside of SpaceX in the quarter was not launches, right? It wasn't Starlink, the satellite internet service. It was actually artificial intelligence. And after Musk folded his AI company into SpaceX earlier in 2026, now that matters to the merger story and I'm going to come back to it. So, keep that part.

As always, guys, it's a good time to say I'm not a financial advisor. Please do your own research. Like if you are bullish and hit that subscribe button, all right?

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This first link in the description that I mentioned, I said it was for anyone who's been sure about a coin but never put their plan on paper. And here's why I bring it up in a video about Musk. I'm not going to tell you to buy any token. I'm not going to tell you to buy XRP because it's my favorite and it's what I hold. I don't know your opportunities.

I don't know your situation. But I'll show you a minute of SpaceX's finance team wrote down what the Bitcoin is for and then held it through about a quarter. Most of us holding XRP have never done the same for ourselves. How much of our money it should be or what there is to do and what we'd do with it fell hard for a few months. And helping write that down is what our Altcoin Pro course is built around.

They can tell you. I won't. I won't tell you what Musk does next. I but they can help you decide what you do if he does do this. Here's how you can check them out, all right?

Click the first link in the description, fill in the short form, book your free 15-minute call and then one of the team is going to go through your exact situation, what strategy you have for your coins, and what they think you could implement to make it safer and not react to headlines. If you're watching on your phone, just click the more button and the link's going to appear straight under that. All right? You've got to book it in, guys, while the merger headlines are fresh because the best time to decide what you do in a storm is when you're not in a storm. Now, you'd assume that if Musk wants SpaceX and Tesla to merge, then they'll simply merge.

Well, here's the chief executive of both, but listen exactly to how he describes it on the call.

SpaceX and Tesla have formed a special committees to discuss this idea um at the request of shareholders. And uh the these special committees are uh consist of of independent uh independent directors. And because I'm a conflicted party, I can't actually be in the discussions of the special committees.

So, each company has a small group of independent directors looking at it, and Musk is kept out of the room because he sits on both sides of the deal. Now, he called it an odd Kabuki dance. That means two groups of people talking while he can't join in. And then, he explained why it's a long way from certain.

But at the end of the day, uh we we the the shareholders have to be supportive of this, and um and particularly on the on the Tesla side, we will need a a 50% vote of all shares, not just those who vote, but of all shareholders. And and that's a that's quite a high hurdle to to try to achieve. So, um And and uh I I can just say that this point that the special committees have have not reached agreement on any on on the on the terms of any transaction, and and and obviously there's no guarantee that they will.

Now, that's a big detail, all right? Half of every Tesla share in existence has to vote yes, not just half of the people who bother to vote. So, every Tesla-owner who never opens the voting papers is, in effect, a no. And no merger vote has been booked. Now, on the 19th of October, Tesla set its 2026 shareholder meeting for the 3rd of December.

And to be honest, there's no merger vote on that ballot. Bloomberg put the size of combined company around three and a half trillion dollars. That's a huge prize and a huge job. So, when you see a mega merger in a thumbnail, remember what the man himself said. No terms agreed, no guarantee.

So, here's the part that touches crypto holders directly. When SpaceX filed its paperwork to list on the stock market, it had to show what it owned. Bloomberg's Ed Ludlow went through on the 27th of May, 2026.

holding. So, as of that regulatory filing, they hold 18,712 Bitcoin and the average purchase price over the history of history of the holdings is like 35,000 US dollars per token. So, Bitcoin cost them about 661 million dollars to acquire. The value of the holdings is 1.3 billion dollars and like the way that SpaceX would tell it is what are they treating this as? Basically, it's held as a treasury reserve asset just in the way that cash or bonds would be.

So, 18,712 Bitcoin bought at around 35,000 dollars each on average. Ludlow also said the filing showed SpaceX hadn't been a seller from around the end of 2024 and that it treats the coins as a reserve. A bit like a company keeping spare cash. Tesla has its own pile. Its filings in 2026 showed 11,509 Bitcoin, but put the two together and you get 30,221 Bitcoin, which is where my 30,000 comes from.

And that's if neither of them sold. And here's what happened to those coins in the spring. In the second quarter of 2026, Bitcoin fell and both companies had to count their fall in their results. SpaceX reported a loss of about 540 million dollars in Bitcoin. Tesla reported a loss of about 112 million and according to the reports on both, neither of them sold.

Crypto sites went through SpaceX's third quarter release report, the stash holding firm, although the release itself is as digital assets rather than counting coins. So, whatever you think of Musk, his finance teams did something a lot of private investors never do. They decided what the coins were for, wrote it down, stuck it through a quarter that cost them hundreds of millions on paper. And just so we're straight with each other, the coin on these balance sheets is Bitcoin. Nothing in the filings or the call that I could find mentions XRP.

A merger would move coins from two balance sheets onto one. It wouldn't buy or sell a single one itself, and it wouldn't touch XRP at all. I want to be very clear. I know I'm a massive XRP fan and this channel was built around the XRP community, but if the Bitcoin isn't the headline, what is? Follow the spending.

SpaceX about 19 and 1/2 billion dollars on capex in the quarter. Now, that money is spent on long-term kit like data centers, chips, and rockets. Yahoo Finance reported that more than 16 billion of it was for AI, and Musk was in a big mood that evening. Now, after the results were out, he posted this. He wrote, "As crazy as it sounds, a trillion dollars of revenue in 2028 is no longer impossible." Now, for scale, the quarter he just reported was about 14 and 1/2 billion, and that's his ambition, not a forecast from the company.

And to be honest, I treat it that way. All right, some investors love the idea of putting it all under one roof. Ross Gerber runs a wealth management firm and owns SpaceX shares, and he told Bloomberg why he wants the merger.

And and so, I think it actually makes everything clean with a merger. We don't have any conflicts of interest. If you're investing in Elon, you buy one share, and you get Elon, all these ventures and hopes and flying cars and whatever. And and the idea that these two companies are competing against each other, but yet are so connected, I mean, even I thought the event last week was another just signal like it was at a SpaceX facility. It was basically a SpaceX car, you know?

And and so, for me, I I I just I you know, it could happen tomorrow, I wouldn't be surprised.

You buy one share, and you get Elon. Well, for a Musk fan, that's the dream, but know what it really means. One share, one boss, one bet. If it goes well, it goes very well. If it goes bad, there's nowhere in sight to hide.

Not everyone sees it his way, but the other side deserves a hearing. On Bloomberg's morning program in Europe on the 21st of October, concerns were raised about governance. With Musk shut out of the very committees weighing the deal, and Yahoo's finance own headline of the results asked whether SpaceX is burning too much cash. Spending 19 and a half billion dollars in a single quarter only works out if the AI business keeps growing into it. Both sides have a fair point, and if a vote ever comes, well, that's where I'll settle, right?

Where does this leave those of us holding XRP? Well, I'd pull three lessons out of it, and the first one is the line between and said and signed. On the 20th of October, Musk said a merger would be a good idea, and in the same answer he said nothing's agreed. The vote needs half of every Tesla share, and there's no guarantee. Both halves were said on the same call, but only one half made the headlines.

Now, a lot of us have seen this with XRP. A big name says something warm or thumbnail turns into a done deal, and people buy or sell on a sentence. Before you act on anything, and you can ask whether it's been said or whether it's been signed. The second thing is check whether the story touches your coin at all. This one doesn't, right?

The coins involved are Bitcoin, and even then, a merger would just move them from two companies into one. If anyone tells you a Musk merger is XRP news, then ask them to show you where XRP appears in the filings. From what I could find, it doesn't. And if Bitcoin moves on merger news, that's Bitcoin's story. XRP has its own reasons to rise or fall, and you're far better off knowing what yours are than borrowing someone else's.

Now, the third thing is that the one I'd keep, right? SpaceX's treasury had a written reason for holding Bitcoin. It actually held through a $540 million paper loss. You and I don't need a finance department to do the same. We just need the answer to the questions before the bad quarter arrives.

How much of my money is the coin allowed to be? What is there to do for me? And what will I do if it drops hard for a few months? Well, if you can answer those on paper, the next big headline is just news, and if you can't, every headline feels like an instruction. Oh, and one more date for you.

Tesla put out its own third quarter results after the American market closed on the 21st of October. So, when you look at them, run the same test. What was said? What was signed? Let me pull it together.

On the 20th of October, SpaceX showed the world that its biggest owner is AI, not rockets, and its boss said a merger with Tesla would be a good idea. Then, he told everybody not to treat it as certain. That doesn't happen often. A big name putting the brakes on his own headline. We can do the same for ourselves.

Here's my question for you. Do you think a company as big as SpaceX should hold crypto on a balance sheet at all? And if you ran its treasury, how much of the spare cash would you allow to be in crypto? Simply tell me in the comments, guys. And if you want big names split into what was said and what was signed, hit subscribe.

Crypto carries risk and past results are no guarantee of future ones. This is education, not financial advice. As always, stay bullish.

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