INSTITUTIONAL | CEO of World’s Largest Institutional Bitcoin Holder Congratulates SpaceX for Holding Bitcoin

Strategy Executive Chairman, Michael Saylor, has said that companies holding bitcoin are becoming increasingly common among the world’s largest technology firms after Elon Musk’s SpaceX made its stock market debut.

“Thanks to you, 25% of the Mag8 now holds bitcoin on the balance sheet,” Saylor wrote in a post on X, congratulating Musk following SpaceX’s historic Nasdaq debut.

The remark introduced Saylor’s expanded ‘Mag8’ grouping which adds SpaceX to the so-called “Magnificent Seven” technology stocks:

• Apple,
• Microsoft,
• Nvidia,
• Alphabet,
• Amazon,
• Meta, and
• Tesla

following the aerospace company’s public listing.

With SpaceX joining Tesla as a publicly-traded Musk-led company holding bitcoin, two of the eight firms in Saylor’s ‘Mag8’ now have the cryptocurrency on their balance sheets representing 25% of the group.

SpaceX entered public markets already holding approximately 18,712 bitcoin making it the world’s eighth-largest publicly listed corporate bitcoin holder, according to pre-IPO public disclosure records.

Tesla, which began buying bitcoin in 2021, holds about 11,509 BTC.

Strategy remains by far the largest publicly traded corporate holder of bitcoin with roughly 845,256 BTC valued at more than $54 billion at current market prices, reinforcing Saylor’s long-running strategy of using bitcoin as the company’s primary treasury reserve asset.

The development underscores the growing presence of bitcoin on corporate balance sheets although adoption among the world’s largest technology companies remains limited beyond Musk’s businesses.

Apple, Microsoft, Nvidia, Alphabet, Amazon and Meta have not disclosed bitcoin holdings.

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