Saylor highlights SpaceX's IPO impact on Bitcoin adoption
Michael Saylor, co-founder of Strategy and a prominent advocate for Bitcoin, commended Elon Musk following SpaceX's recent debut on the Nasdaq. In a post on X, he noted that 25% of the companies he refers to as the "Mag8" now include Bitcoin on their balance sheets.
SpaceX's IPO, which raised a staggering $1.75 trillion, has positioned the company as the eighth-largest public holder of Bitcoin, with a total of 18,712 BTC. Saylor's "Mag8" is an extension of the well-known Magnificent Seven, which includes major firms like Apple and Microsoft, with SpaceX now recognized as the eighth member.
Both Tesla and SpaceX, under Musk's leadership, had already incorporated Bitcoin into their financial strategies prior to the IPO. Tesla currently holds 11,509 BTC, while Strategy remains the largest public Bitcoin holder with 845,256 BTC valued at over $54 billion. Saylor's acknowledgment underscores the growing acceptance of Bitcoin among major corporations, a trend he attributes in part to Musk's influence.
