Saylor credits Musk for turning the "Mag8" into a 25% bitcoin club 🚀

Strategy chairman Michael Saylor publicly credited Elon Musk on Friday for pushing corporate bitcoin adoption to a new threshold, saying that 25% of his so-called "Mag8" cohort of leading tech firms now hold bitcoin on their balance sheets. The message came shortly after SpaceX completed its historic $1.75 trillion listing on Nasdaq, the largest public offering on record, and elevated the rocket maker to public-company status.

The "Mag8" is Saylor's expanded riff on the Wall Street "Magnificent Seven" group of Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla, with SpaceX slotted in as the eighth member. Both Musk-led companies in the group, Tesla and SpaceX, already held bitcoin before the IPO, according to data referenced by Saylor.

SpaceX entered the public market already ranked as the eighth-largest public corporate bitcoin holder, with 18,712 BTC on its balance sheet per BitcoinTreasuries.net. Tesla holds 11,509 BTC. Strategy remains the largest publicly listed corporate bitcoin holder with 845,256 BTC, valued at more than $54 billion.

Saylor's post on X framed Musk's role in corporate treasury adoption as a direct catalyst, writing, "Thanks to you, 25% of the Mag8 now holds bitcoin on the balance sheet." The remark lands as more non-finance firms publicly weigh bitcoin allocations, a trend Saylor has championed through Strategy's own multi-year accumulation program.

The Nasdaq debut marks SpaceX's first trading session as a public company and adds a new member to the small group of major corporates that disclose bitcoin holdings. SpaceX, Tesla and Strategy together control more than $66 billion worth of $BTC at current prices, underscoring how concentrated corporate treasury exposure to the asset has become among a handful of trillion-dollar-cap technology names.