Strategy executive chairman Michael Saylor stated on June 13 that 25% of the Mag8 now holds bitcoin on corporate balance sheets, linking the milestone to SpaceX's public listing. Saylor posted the message on X after SpaceX completed an IPO that drew over $350 billion in demand and valued the company at about $2.1 trillion. The statement reflects the expanding trend of major technology companies adding bitcoin to their balance sheets.
Saylor wrote on X: "Congratulations Elon Musk and $SPCX on a historic IPO. Thanks to you, 25% of the Mag8 now holds Bitcoin on the balance sheet." The Mag8 expands on the Magnificent Seven, consisting of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. Saylor's post effectively added SpaceX to that lineup following its IPO.
SpaceX IPO Draws $350 Billion in Demand
SpaceX entered public markets on Nasdaq under ticker SPCX after extraordinary demand for its shares. The IPO reportedly drew more than $350 billion in demand against a planned $75 billion offering, according to Bloomberg. The listing valued SpaceX at about $2.1 trillion, placing it among the world's largest technology companies. The market debut made Elon Musk the world's first trillionaire.
Strategy Holds 845,256 BTC as Largest Corporate Holder
Strategy remains the largest corporate holder of bitcoin, with 845,256 BTC on its balance sheet. The company has funded its bitcoin purchases through debt, equity, and preferred-stock offerings. Tesla holds 11,509 BTC, while SpaceX holds 18,712 BTC worth roughly $1.2 billion at current prices.
Corporate bitcoin treasuries now include public companies, private firms, miners, exchanges, and balance-sheet-focused vehicles. A recent ranking showed the top 100 bitcoin treasuries holding a combined 1,258,090 BTC. Major names include Strategy, Tesla, SpaceX, Coinbase, Riot Platforms, Block, Galaxy Digital, and Hut 8.
Industry Analysts Warn on Treasury Company Leverage
Capriole Investments founder Charles Edwards warned that bitcoin treasury companies are "levering up at record rates." Grayscale separately warned Strategy may face constraints on future bitcoin purchases if market conditions weaken. Treasury-company concerns have centered on leverage, dividend obligations, and potential BTC selling during weaker markets.
Saylor has continued to describe bitcoin through a broad institutional framework. He outlined four bitcoin ideologies: Maximalists, Capitalists, Technologists, and Fundamentalists. His framework presented BTC as corporate capital, bank collateral, national reserves, and infrastructure for financial markets.
FAQ
What did Michael Saylor say about the Mag8 and bitcoin on June 13?
Michael Saylor stated on June 13 that 25% of the Mag8 now holds bitcoin on corporate balance sheets, linking the milestone to SpaceX's public listing.
How much bitcoin does Strategy hold on its balance sheet?
Strategy holds 845,256 BTC on its balance sheet, making it the largest corporate holder of bitcoin. The company has funded its purchases through debt, equity, and preferred-stock offerings.
What concerns have analysts raised about bitcoin treasury companies?
Charles Edwards warned that bitcoin treasury companies are "levering up at record rates," while Grayscale warned Strategy may face constraints on future bitcoin purchases if market conditions weaken.
