Michael Saylor says SpaceX IPO pushes Bitcoin onto 25% of “Mag 8” balance sheets
Michael Saylor hailed SpaceX’s blockbuster public debut as another milestone for corporate Bitcoin adoption, arguing that the listing means Bitcoin is now on the balance sheets of 25% of the so-called “Mag 8” tech giants.
In a June 13 post on X, the Strategy chairman congratulated Elon Musk and SPCX, writing: “Congratulations Elon Musk and SPCX on a historic IPO. Thanks to you, 25% of the Mag8 now holds Bitcoin on the balance sheet.” By Saylor’s math, two Musk-linked firms—SpaceX and Tesla—now represent two of eight major tech companies in the group, and both have publicly disclosed BTC treasuries.
Holdings and rankings
- According to BitcoinTreasuries, SpaceX holds 18,712 BTC and Tesla holds 11,509 BTC, a combined 30,221 BTC.
- SpaceX’s holdings place it among the largest corporate Bitcoin holders: BitcoinTreasuries ranks the company eighth among public treasury holders, behind Strategy (MicroStrategy), Twenty One Capital, Metaplanet, MARA Holdings, Bitcoin Standard Treasury Company, Bullish, and Strive.
- Strategy remains the dominant corporate holder by a wide margin, listed with 845,256 BTC.
Why it matters
SpaceX’s IPO spotlighted how Bitcoin is increasingly part of corporate treasury strategies beyond a handful of early adopters. Public companies now hold roughly 1.26 million BTC—about $80.6 billion at current prices—with 199 firms reporting holdings. Aggregate corporate BTC balances have risen about 3% in the past 30 days, reflecting continued adoption among public firms. Notable corporate holdings include Twenty One Capital (43,514 BTC), Metaplanet (40,177 BTC), and MARA (35,303 BTC).
SpaceX’s market debut
SpaceX’s public debut was strong: shares jumped as much as 31% intraday to a high of $176.52, later settling at $160.95—up about 19% from the $135 IPO price. The rally briefly pushed the company’s market capitalization above $2 trillion and underscored investor appetite for one of the year’s most-anticipated listings.
Market context
Longtime Bitcoin advocate Saylor has spearheaded the push to position BTC as a corporate treasury asset through Strategy. Marketwise, Bitcoin (BTC) was trading near $61,242 at the time of reporting—down 3.1% over 24 hours and about 8% over the past week, and roughly 51.4% below its all-time high of $126,080 amid macro uncertainty and elevated Treasury yields.
Disclosure: This article is for informational purposes only and does not constitute investment advice.
Read more AI-generated news on: undefined/news
