Michael Saylor, co-founder of Strategy, has introduced a new term to describe Wall Street’s top-performing stocks while also extending congratulations to Elon Musk. This acknowledgment follows SpaceX’s momentous debut on the Nasdaq, marking the company’s entry into the public markets last Friday.
In a post on X, Saylor highlighted that with SpaceX’s transition to a public company, 25% of what he refers to as the “Mag8” firms now incorporate bitcoin into their financial assets. The Mag8, a term coined by Saylor, appears to broaden the widely recognized “Magnificent Seven,” which typically consists of major tech giants including Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla. With SpaceX valued at an estimated $1.75 trillion following its IPO—the largest in history—Saylor has officially welcomed it as the eighth member of this elite group.
Importantly, both Tesla and SpaceX already had bitcoin holdings prior to the IPO, solidifying their position within this elite category. SpaceX is notable for holding 18,712 bitcoins, making it the eighth-largest public bitcoin holder, according to BitcoinTreasuries.net. Tesla, under Musk’s leadership, maintains a substantial bitcoin stash of 11,509 BTC.
Despite the dynamic changes in the tech and financial landscape, Strategy continues to hold the largest individual bitcoin reserve, boasting 845,256 BTC, currently valued at over $54 billion. This significant ownership underscores the growing trend among major corporations to incorporate bitcoin into their balance sheets, connecting traditional sectors with the ever-evolving cryptocurrency market.
