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SpaceX debuted on Nasdaq on June 12, 2026, becoming the largest IPO ever completed in the United States. The company’s opening valuation placed the company ahead of Tesla and Meta Platforms, both already members of the Magnificent Seven.
Shares surged as much as 31% intraday to a high of $176.52 before closing at $160.95, still up 19% from the $135 IPO price. The sequence of events briefly pushed SpaceX’s market cap above $2 trillion.
Congratulations @ElonMusk and $SPCX on a historic IPO.
Thanks to you, 25% of the Mag8 now holds Bitcoin on the balance sheet.
— Michael Saylor (@saylor) June 13, 2026
In a tweet, Strategy’s chairman Micheal Saylor congratulated Elon Musk on the historic debut and coined the term ‘Mag8’. He noted that 25% of the group now holds Bitcoin on the balance sheet.
SpaceX’s S-1 filing confirmed the company holds 18,712 BTC, acquired at a total cost of $661 million. That’s an average of roughly $35,300 per coin, and is now valued at $1.29 billion. Tesla holds 11,509 BTC, according to BitcoinTreasuries data. Combined, the two Musk-linked companies hold 30,221 BTC.
🚨SPACEX REVEALS $1.18 BILLION BITCOIN STASH
SpaceX disclosed holding 18,712 $BTC in its SEC filing, making it the world’s 8th-LARGEST public Bitcoin holder.
Combined with Tesla’s 11,509 BTC, Elon Musk’s companies control 30,221 BTC worth roughly $1.9 BILLION. pic.twitter.com/ykQYq0zXHa
— Coin Bureau (@coinbureau) June 12, 2026
The freshly coined Mag8 term expands on the Magnificent Seven, Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla, with Saylor’s post effectively adding SpaceX to that lineup following its IPO. And while this is beside the point, there are already strong indicators this could be AI’s biggest play yet.
In the wider context, there is support for the adoption narrative. Public companies collectively own approximately 3.4% of total Bitcoin supply, according to Bernstein estimates, a meaningful share of an asset with a fixed 21 million coin cap.
A recent ranking showed the top 100 corporate Bitcoin treasuries holding a combined 1,258,090 BTC, including Strategy, Tesla, SpaceX, Coinbase, Riot Platforms, Block, Galaxy Digital and Hut 8.
It’s worth pointing out that Tesla and SpaceX are two companies both fronted by the same individual, at least on the public-facing side. On the risk side of things, it’s pretty straightforward.
Bitcoin remains volatile, and Tesla has navigated this before, briefly selling a portion of its holdings in 2022 before holding steady afterward. Long before going public, SpaceX was also reported as moving $105 million worth of Bitcoin into unknown wallets, while Microsoft shareholders have separately voted on Bitcoin treasury proposals and rejected them.
Two companies may be a small sample size, but they are influential ones. Musk’s decision to keep Bitcoin on SpaceX’s balance sheet sends a signal that other corporate boardrooms are likely watching closely.
SpaceX’s IPO was a landmark event, but the bigger test comes after the lock-up period ends. Whether it continues growing its Bitcoin holdings could determine if Saylor’s “Mag8” thesis gains further traction among mega-cap companies.
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