Musk's SpaceX–xAI mega deal sharpens focus on bitcoin accounting ahead of IPO

The move concentrates crypto exposure across Musk’s businesses, with energy company Tesla’s among the top public holders of the asset. What to know : Elon Musk’s merger of SpaceX with his artificial-intelligence firm xAI creates a potential trillion-dollar tech giant while bringing SpaceX’s sizable bitcoin holdings back into the spotlight ahead of a possible IPO. The combined company is expected to inherit SpaceX’s roughly 8,300-bitcoin stake, worth about $650 million, a sum small relative to its valuation but significant for future accounting, disclosure and investor perception. The move concentrates crypto exposure across Musk’s businesses, with energy company Tesla’s among the top public holders of the asset.