Michael Saylor, co-founder of Strategy, the world’s largest publicly listed bitcoin holder, has a new term for Wall Street’s most elite stocks and a congratulatory message for Elon Musk.
Following SpaceX’s historic Nasdaq debut on 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.
“Thanks to you, 25% of the Mag8 now holds bitcoin on the balance sheet,” Saylor wrote.
The Mag8 appears to be Saylor’s expanded version of the widely used Magnificent Seven group, which includes Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla. He has added SpaceX as the eighth member following its $1.75 trillion IPO, the largest public offering in history.
Both Tesla and SpaceX, the two Musk-led companies in the group, already held bitcoin on their balance sheets before the IPO.
SpaceX is already the eighth-largest public bitcoin holder, with 18,712 bitcoin on its balance sheet, according to BitcoinTreasuries.net. Tesla, meanwhile, holds 11,509 BTC.
Strategy remains the leader with a coin stash of 845,256 BTC worth over $54 billion.