Saylor Says SpaceX Listing Puts Bitcoin on More Elite Corporate Balance Sheets
Michael Saylor congratulated Elon Musk after SpaceX’s Nasdaq debut, saying the listing means 25% of his expanded “Mag8” group now holds bitcoin on its balance sheet. CoinDesk reported that both SpaceX and Tesla already held BTC before the IPO.
What happened?
Michael Saylor congratulated Elon Musk after SpaceX’s Nasdaq debut, saying the listing means 25% of his expanded “Mag8” group now holds bitcoin on its balance sheet. CoinDesk reported that both SpaceX and Tesla already held BTC before the IPO.
Why it matters
The development matters because it places corporate bitcoin treasury holdings back in the spotlight, especially among companies viewed as market leaders. According to CoinDesk, Saylor’s “Mag8” expands the widely followed Magnificent Seven group by adding SpaceX after its reported $1.75 trillion IPO.
Michael Saylor, co-founder and chairman of Strategy, marked SpaceX’s Nasdaq debut by crediting Elon Musk with bringing more bitcoin exposure into the top tier of U.S. public companies. In a post on X, Saylor said that 25% of what he calls the “Mag8” now holds bitcoin on the balance sheet following SpaceX’s public listing.
The development matters because it places corporate bitcoin treasury holdings back in the spotlight, especially among companies viewed as market leaders. According to CoinDesk, Saylor’s “Mag8” expands the widely followed Magnificent Seven group by adding SpaceX after its reported $1.75 trillion IPO.
CoinDesk reported that SpaceX debuted on Nasdaq on Friday and is already the world’s eighth-largest public bitcoin holder. The company holds 18,712 BTC, according to BitcoinTreasuries.net data cited by CoinDesk.
Tesla, also led by Musk, is the other company in Saylor’s “Mag8” framing that holds bitcoin. CoinDesk said Tesla has 11,509 BTC on its balance sheet, meaning both Musk-led companies in the expanded group had bitcoin holdings before SpaceX went public.
Strategy remains far ahead of both companies as the largest publicly listed bitcoin holder. CoinDesk reported that Strategy holds 845,256 BTC, valued at more than $54 billion at the time of the article.