Michael Saylor says SpaceX IPO pushes Bitcoin into 25% of Mag 8

Michael Saylor said SpaceX’s IPO marks a milestone for corporate Bitcoin adoption, arguing that 25% of the so-called Mag 8 now hold BTC on their balance sheets.

In a June 13 X post, the Strategy chairman congratulated Elon Musk and SpaceX following the company’s highly anticipated stock market debut.

Saylor used the occasion to highlight Bitcoin’s growing presence among major technology firms, arguing that SpaceX’s listing has made Bitcoin part of the balance sheet strategy of 25% of the so-called Mag 8 companies.

“Congratulations Elon Musk and SPCX on a historic IPO. Thanks to you, 25% of the Mag8 now holds Bitcoin on the balance sheet.”

Tesla and SpaceX give Bitcoin a place in the Mag 8

Saylor’s comment refers to Tesla and SpaceX, two companies linked to Musk that have disclosed Bitcoin holdings. According to BitcoinTreasuries data, SpaceX currently holds 18,712 BTC, while Tesla owns 11,509 BTC.

Source: Bitcoin Treasuries

Combined, the two companies hold 30,221 BTC, giving weight to Saylor’s argument that Bitcoin has gained a foothold among some of the world’s most influential technology firms.

The remark came as SpaceX made its public market debut. Shares of the aerospace company surged as much as 31% intraday to a high of $176.52 before giving back part of those gains and closing at $160.95, still up 19% from its $135 IPO price.

The strong debut briefly pushed the company’s market capitalization above $2 trillion and underscored investor enthusiasm for one of the most anticipated listings in recent years.

For Saylor, the significance extends beyond the stock’s performance. The longtime Bitcoin advocate has spent years promoting the cryptocurrency as a corporate treasury asset through Strategy, which remains the world’s largest public Bitcoin holder. According to BitcoinTreasuries, Strategy owns 845,256 BTC, far ahead of every other corporate holder.

SpaceX’s position among the largest corporate Bitcoin owners also places it ahead of several well-known crypto-related firms. BitcoinTreasuries ranks the company eighth among public Bitcoin treasury holders, behind firms including Strategy, Twenty One Capital, Metaplanet, MARA Holdings, Bitcoin Standard Treasury Company, Bullish, and Strive.

Corporate Bitcoin adoption continues to accelerate

Saylor’s comments also come as corporate Bitcoin adoption continues to expand. Data from BitcoinTreasuries shows that public companies collectively hold about 1.26 million BTC worth roughly $80.56 billion. The number of public companies holding Bitcoin has climbed to 199, while aggregate corporate holdings have increased about 3% over the past 30 days.

The trend has accelerated in recent months as more companies adopt Bitcoin treasury strategies previously associated with Strategy. Twenty One Capital currently holds 43,514 BTC, while Metaplanet owns 40,177 BTC and MARA Holdings controls 35,303 BTC, according to BitcoinTreasuries data.

While most members of the Mag 8 have yet to add Bitcoin to their balance sheets, Saylor’s post highlights how corporate adoption has expanded beyond a handful of early adopters. With SpaceX now trading publicly while holding nearly 19,000 BTC, Bitcoin’s presence among major technology companies appears more visible than ever.

At press time, Bitcoin (BTC) was trading near $61,242, according to data from crypto.news. The world’s leading crypto asset has fallen 3.1% in the past 24 hours and 8% over the last week. However, it still remains roughly 51.4% below its record high of $126,080 as investors continue to react to macroeconomic uncertainty, elevated Treasury yields, and expectations that the Federal Reserve could keep interest rates higher for longer.