Elon Musk merges SpaceX with AI company xAI, consolidating approximately 8,300 Bitcoins (worth about $650 million) into a single entity ahead of a potential IPO. Unlike Tesla, SpaceX has held Bitcoin but has not traded it, thus avoiding quarterly fluctuations faced by publicly traded companies under fair value accounting standards. This stability may appeal to long-term investors, but as the merged company prepares to go public amid potential Bitcoin market volatility, its financial flexibility is also limited.
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Elon Musk merges SpaceX with AI company xAI, consolidating approximately 8,300 Bitcoins (worth about $650 million) into a single entity ahead of a potential IPO. Unlike Tesla, SpaceX has held Bitcoin but has not traded it, thus avoiding quarterly fluctuations faced by publicly traded companies under fair value accounting standards. This stability may appeal to long-term investors, but as the merged company prepares to go public amid potential Bitcoin market volatility, its financial flexibility is also limited.