SpaceX IPO Pushes Bitcoin to 25% of Mag 8, Michael Saylor Says

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

On June 13 mailchief strategy officer Elon Musk and SpaceX congratulated after the company’s highly anticipated stock market debut.

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

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

Tesla and SpaceX give Bitcoin a place in Mag 8

Saylor’s comment refers to Musk-linked companies Tesla and SpaceX, which have disclosed their bitcoin holdings. According to BitcoinTreasuries data, SpaceX currently owns 18,712 BTC, while Tesla owns 11,509 BTC.

Together, the two companies own 30,221 bitcoins, giving weight to Saylor’s argument that bitcoin has gained a foothold among some of the world’s most influential technology companies.

This statement came at a time when SpaceX issued its statement Debuts on the public market. Shares of the airline rose as much as 31% on the day to a high of $176.52 before giving up part of those gains and closing at $160.95, still up 19% from its IPO price of $135.

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

For Saylor, the importance extends beyond the stock’s performance. the Longtime Bitcoin advocate He spent years promoting the cryptocurrency as a corporate treasury asset through Strategy, which remains the world’s largest public holder of bitcoin. According to the BitcoinTreasuries website, the strategy She owns 845,256 Bitcoinfar ahead of every other business owner.

SpaceX’s position among the largest Bitcoin holders also places it at the forefront of many well-known companies related to cryptocurrencies. BitcoinTreasuries ranks eighth among public holders of Bitcoin Treasuries, behind companies including Strategy, Twenty One Capital, Metaplanet, MARA Holdings, Bitcoin Standard Treasure Company, Bullish, and Strive.

Bitcoin adoption by businesses continues to accelerate

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

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

While most Mag 8 members have yet to add Bitcoin to their balance sheets, Saylor’s post highlights how corporate adoption is expanding beyond a handful of early adopters. With SpaceX now publicly traded holding approximately 19,000 bitcoins, Bitcoin’s presence among major tech companies seems more evident than ever.

At the time of writing, Bitcoin (Bitcoin) was trading near $61,242, according to data from crypto.news. The world’s leading crypto assets fell by 3.1% over the past 24 hours and by 8% over the past week. However, it is still roughly 51.4% below its record high of $126,080, as investors continue to react to macroeconomic uncertainty, rising Treasury yields, and expectations that the Federal Reserve may keep interest rates high for longer.