According to Michael Saylor, the SpaceX IPO marks a significant milestone for Bitcoin adoption among major corporations. The Strategy chairman congratulated Elon Musk and SpaceX on their market debut, noting that the event has increased Bitcoin’s presence in the balance sheets of top tech companies. Saylor believes that with SpaceX and Tesla both holding Bitcoin, 25% of the so-called Mag 8 now have exposure to the cryptocurrency.
SpaceX holds 18,712 BTC, while Tesla owns 11,509 BTC, according to BitcoinTreasuries data. These holdings underscore the growing acceptance of Bitcoin among influential technology firms. Saylor, a long-time advocate, has championed Bitcoin as a corporate treasury asset through Strategy, which remains the largest public Bitcoin holder with 845,256 BTC.
The IPO saw SpaceX shares surge, briefly pushing its market cap above $2 trillion. This strong debut highlights investor enthusiasm and further validates Bitcoin’s role in corporate finance. Corporate Bitcoin adoption is accelerating, with public companies now collectively holding about 1.26 million BTC worth approximately $80.56 billion across 199 firms.
While the majority of the Mag 8 have yet to add Bitcoin to their balance sheets, Saylor’s comments emphasize the progress made. As of press time, Bitcoin is trading near $61,242, reflecting a 3.1% decline in the past 24 hours and an 8% drop over the last week, but still showing resilience amid macroeconomic uncertainties.