Saylor to Musk: Thanks to you, 25% of 'Mag8' firms now hold bitcoin
Michael Saylor has congratulated Elon Musk on SpaceX's public debut, noting that 25% of the 'Mag8' group of companies now hold Bitcoin on their balance sheets. SpaceX and Tesla are the primary contributors to this trend within the expanded Magnificent Seven group.
Why it matters
The inclusion of Bitcoin on the balance sheets of major public corporations signals increasing institutional adoption and legitimization of cryptocurrency as a treasury asset.
Following SpaceX s historic Nasdaq debut Friday, the Strategy chairman took to X to congratulate Musk, noting that with SpaceX now public, 25% of what he calls the "Mag8" firms now hold bitcoin on their balance sheets.
The article reports on financial news and corporate holdings without taking a stance on the value of Bitcoin or the companies involved.
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