Elon Musk Gets Shout Out From Strategy's Michael Saylor For 'Historic' SpaceX IPO: '25% Of The Mag8 Now Holds Bitcoin'
Strategy Inc. (NASDAQ:MSTR) Chair Michael Saylor congratulated Elon Musk and Space Exploration Technologies Corp. (NASDAQ:SPCX) on their record-breaking IPO, while drawing attention to the newly-listed firm’s substantial Bitcoin (CRYPTO: BTC) holdings.
Musk’s Firms Leading ‘Mag 8’ Bitcoin Leaderboard
Saylor hailed SpaceX's debut as ‘historic’ on X, noting that 25% of the “Mag 8” companies — the original “Mag 7” plus SpaceX — now hold Bitcoin on their balance sheets.
The aerospace giant revealed in its IPO filing that it holds 18,712 BTC on hand as of March 31, recognized at a fair value of $1.29 billion. The total cost basis of these holdings was reported at $661 million, implying an average acquisition cost of approximately $35,324 per BTC.
The only other so-called “Mag 8” company with a BTC reserve is Tesla Inc. (NASDAQ:TSLA). The Musk-led EV giant holds 11,509 BTC, worth more than $755 million, according to on-chain data.
Record-Shattering IPO
SpaceX’s IPO was a landmark event, raising $75 billion through the sale of 555.6 million primary shares.
The shares opened at $150, reflecting immediate institutional and retail demand well above the offering price of $135, marking the largest stock market debut in history.
At the closing price, SpaceX's market capitalization stood at roughly $2.18 trillion, ranking it among the most valuable U.S.-listed companies — though still below megacap leaders such as Apple Inc. (NASDAQ:AAPL), Microsoft Corp. (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOGL).
Price Action: At the time of writing, BTC was trading at $65,666.22, up 1.82% over the last 24 hours, according to Benzinga Pro data.
SpaceX shares were up 4.09% in Sunday’s overnight trading after closing 19.22% higher at $160.95 during Friday’s regular trading session.
The SpaceX stock exhibited a weaker price trend across short-, medium-, and long-term horizons, according to Benzinga’s Edge Stock Rankings.
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